-- 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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Report on the age and pension amount.
Many pensions are over $150,000 per year at age 55 till age 90 plus.
3% increases every year adds up to over $5million in total.
Just part of the HUGE PENSION TIME BOMB EXPLODING.
Burnout my butt. They’re taking their egregious pensions and heading to Florida. They don’t want to be here more than anyone else.
Florida is filled with young, retired cops, teachers, and firemen who enjoy the luxury lifestyle on the taxpayer’s money.