-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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There are already TONS of “workforce programs” for the “underprivileged”. One of my former employers – an agency that trains low – income people for good manufacturing careers – opened a snazzy new training facility in The Chatham Education and Workforce Center one year ago. These trainings lead to good and high – paying manufacturing careers – IF you want to work, that is. In one year’s time, how many in “the community” even made any *inquiries* about the training programs offered? You guessed it – ZERO! So the facility that “the community” begged and pleaded for sits empty. After… Read more »
Yes again, our taxes wasted on another unused/underused resource.
And yes, in a culture of handouts it takes a strong individual to break the freebie habit.
Uh, those kids don’t want to work. If they want something they just go into their favorite high end store and take it. Then they take the nicest car on the street home. Easy peasy.
Vallas, your’e an idiot
Well-meaning, but he doesn’t read the room very well.