-- 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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Blah, blah, blah. More, more, more. Gimme, gimme, gimme. The same song for decades with no positive results. How about parental supervision, how about fathers that care, how about keeping the community clean, how about going to school, how about actually being students, how about being responsible, how about not blaming White people for all the problems.
Yeah, that’s not going to happen.
None of this is going to happen, nothing but a pipe dream. Taxes are going to the moon; overly generous pensions must be funded by today’s contributions. Services are going to be cut severely as the pensions must be funded. Crime is only going to get worse, much worse. The honest families are fleeing leaving only criminals. The CPS teaches Zero job skills but being a criminal. The future has been set up for the last 10 years of decline. Now there is little hope for Chicago. The Pension time bomb is exploding and going to grow expediently. Paid for… Read more »