-- 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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Is the unfunded balance of pensions and benefits growing or shrinking? Every year Illinois falls deeper into debt and has fewer residents to pay off the balance. Miller calls this good news.
Pritzker’s favorite tapeworm emerges from JB’s intestinal opening to try an bamboozle the chumbolones that JB Pritzker is a financial genius and should be the next President. Sadly the Pravda parrot can only convince the already stupid Democrats. This absurdity wont pass muster among the smarter voters of Illinois. Crawl back into your parasitic nest, Miller.
DEMO-CRAP MATH
Sure, just grow the budget so pension payments become a smaller portion thereof. Who could have a problem with that?
The pension problem, not a doom grifter just
Using common sense, is like a water leak.
Starts off small, drip, drip, unless you fix it
It gets worse. Don’t fix it but put a bowl under it the bowl fills faster and faster,
Continue to ignore fixing it the bowl overflows and then the wood underneath it will rot. This process continues until it
Gets to a load bearing structure then it really
Gets good. It will cause a structural breakdown and it all comes down.
The pension is at a load bearing area,
Heads up.
Comrade Miller displaying “ glastnost “. Da.
Thumbs down from comrade Miller, too frightened and childish to post a response. Da.
This is going to only get worse for decades to come. Bankruptcy is the only way to solve this. But first the politicians must bleed all the money out of the system leaving the taxpayers to pay for everything. The Pension system in Illinois is DOA, not chance of survival. The numbers do not come close to adding up.
Already made the escape. You won’t believe how nice it is once you breach the prison walls.