-- 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
Face it, there is a huge issue that is not explored ad it is pretty basic. The gigantic salaries, benefits, pension, and healthcare packages are part of the problem. Simply put. Chicago cops really have no where else to go where they can get the same type of compensation with the skills they possess. They cannot get anywhere near that type of compensation in the private sector nor can they transfer their benefits to departments out of state, etc. Many of us in the private sector get trapped by lifestyle into our salary and positions. But for most of us,… Read more »