-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
While a bill like this may sound good at first, it could really drive up the cost of insurance or actually limit drug availability. Some of the most advertised drugs on TV right now are expensive biologic treatments. Many of these products are several thousand dollars a month. These new medicines are game changers for many but there are also some people that are treated fine with older less expensive medicines. The insurance companies want patients to try the less expensive medicine to see if that works first before authorizing a product that could cost 5 thousand a month. Yes… Read more »