-- 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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The costs for these jumpers is highly inflated with the expectation of a federal bailout. How much are they charging for healthcare? $500 to take your temp? Bandaids $100 and so on. The true cost to house these people is/was less than the stated figures so if and when the feds will reimburse the expenses where will most of that money end up? Cayman Islands?
Illinois state morons have spent $500M on the illegal immigrants. $500M?! Unbelievable. This issue is like the school districts…bottomless pit.