-- 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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Not to worry, the medical profession has been devoured by finance people such as DuPage Medical, now DULY. The book keepers will squeeze every possible dime. The doctors hate it , the nurses and lab people hate it. You the patient soon learn to hate it. Porky probably clears all medical business related decisions with big medical conglomerates. They make donations too. Not that Porky cares, he simply wants expert support!
Illinois healthcare professionals are burned out and leaving the medical profession because: 1. Illinois public school teachers are compensated roughly double nurses’ compensation (and school admins are compensated more per hour worked than doctors). 2. Teachers retire at 55 (vested after 20 years) with lifetime retirement pay equal or greater than that which working nurses earn. 3. Medical professionals must pay their own insurance premiums, attached to jobs, while teachers get free platinum health insurance at taxpayer expense beginning age 55. 4. Teachers work fewer hours, demand to “work” from home, and suffer almost no personal risk of personal health… Read more »
This is an error in what you are saying as regards public teacher retirees in IL at least. Such retirees do not receive free health insurance, although it is partially subsidized. Most of the cost is borne by the individual retiree. Perhap that’s not true, though, where the retiree’s annuity is significantly less than average.
Does this include his Laparoscopic gastric banding surgery?
Allow the hospital managers to determine what steps need to be taken.
Exactly, Pritzker needs to keep his nose out of private enterprise.