-- 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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It is clear that Biden has no clue what he is signing.
Here is one among many opinion pieces you can find that are critical of this new measure: https://www.dallasnews.com/timeless-in-texas/2025/01/05/the-social-security-fairness-act-new-law-is-a-200-billion-boondoggle/
Find all the opinion pieces that you like. The opinions of elected leaders on both sides of the aisle disagreed and voted to end the discrimination that teachers, firefighters and other public employees have endured. The bipartisan voting showed that our elected leaders can come together for the common good of what is just and fair.
Sure, they all saw the virtue in coming together for the common good. After 40 years, as you pointed out. After an election in which the public unions preferred candidate got hit by the door on her way out. Makes perfect sense in some alternate reality, but that’s the space you guys inhabit.
Trump/Vance and many other Republicans supported this bill. Not all unions had a preferred candidate. Time to get educated. My union brothers and sisters will work with both parties for the common good of the working man and woman. I would like to thank my firefighter union brothers and sisters for helping gain this Republican support. It’s not easy with all the corporate bootlickers out there but together we can achieve anything.
Lot of good articles on SS Fairness Act, Mary Pat Campbell latest is a good read , Social Security Tinkering: No, It’s Not Been Made Fairer (or More Solvent)(https://marypatcampbell.substack.com/p/social-security-tinkering-no-its?utm_source=post-email-title&publication_id=32636&post_id=154267184&utm_campaign=email-post-title&isFreemail=true&r=27r3n2&triedRedirect=true&utm_medium=email)
A forty year wrong has finally been righted. We will no longer be treated different than our fellow Americans simply because we worked a job with a government pension. I will now be able to get my spousal benefits just like other husbands and wives who didn’t work a job that paid into SS. The average may only be $300 per month but for me it’s around $1300. 15 grand a year not to mention the back pay I’m owed. Making my retirement great again. What a great start to 2025.
You no longer want to be treated different from your fellow Americans simply because you worked a government job? Hilarious. There’s an old adage: Be careful what you wish for. You just might get it. In spades.
I’ll get it alright. I’ll get about a $400 increase to my pension because of the new year and a $1300 increase in my social security. That’s $14700 per month now. Finally, fairness from social security has provided me full benefits and stopped penalizing me for working a job in the public sector. Not to mention the SS back pay to December of 2023. Should be over 15k lump sum. Hopefully get that soon so I can invest those funds. Don’t really need them but it’s nice to finally get what’s mine.
Lol…!!! “Pensions Paid First”, didn’t you ever hear the old adage, “Little children that lie won’t go to Heaven when they die”? *No* one here believes one word of your hapless trolling – and that includes the words ” a”, “and”, and “the”… but do carry on, you are good for some (very!) cheap laffs…
This is to you and PP. Before, during and after public service, including time in the military, I contributed fully into SS. I have 20+ fully paid quarters and 15+ more partially paid. I received a reduction to my SS of approx. 80% of what I should have received as a ‘theft’ penalty due to my being industrious. If you guys wouldn’t mind, how about y’all drop a little into my coffer to make up for the ‘theft’ of 40 large that was stolen!
It’s too bad it took this long to right this wrong illeagle. You paid into social security and didn’t deserve to have a portion stolen from you. Finally some fairness to your social security. Congratulations on getting partially what you are owed. They will never fully make up for the theft.
I receive Railroad Retirement will never receive SS, but what angers me is that my wife is soon to retire and will draw a portion of my monthly annuity. After working all her life and Paying into SS she will be eligible to take her SS but at a penalty against her monthly annuity from Railroad Retirement, she should be eligible for both without penalty all that money paid into the system gone, stolen by bureaucrats.
Believe whatever you want Gregory. I like that you don’t believe this is real. Not sure if my pension will be paid first or my social security. Doesn’t really matter to me as long as they keep coming every month. Making my retirement great again.
He’s a frustrated Marxist typing from his parents basement and waiting for them to kick off so that he can finally own something in his life.
So disappointing the majority of republicans in congress signed off on this gift to public sector at expense of dopey SS taxpayers.,,,shear vote buying by both D &R’s. Horrible.
Something to ponder. With the cognitive decline of Biden if he really has dementia not a small stroke causing all his gaffes anything he signs should not be valid. Dementia patients cannot sign legally contracts.
If what you are saying is true, nearly all, if not all of what actions he took during the last four years are void!