-- 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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Telling that the concern is pensions and not the services that municipal governments provide deteriorating because of these pensions.
It did not hurt the pensions, it HURT THE TAXPAYERS. Get the real story straight.
PPF tells you must pay the pensions as agreed, I think he may be right.
The only way out of this mess is to get out ASAP.
You KNOW I’m right. So do many others. The rest are living in denial. Time to start paying more to fund pensions now or pay even more later.
Pensions can be paid with ‘IOU’s’ – That day draws near.
Says the guy that thinks Rauner passed pension reform. lol
Seriously though, when will this happen? How long have you and others been making that claim and nothing?
I’m kidding. I wouldn’t expect you to contribute any accurate knowledge. Here is the real prognosis, increased taxes. Plenty of taxes left to be raised.
The main reason people stay is family, children and grandchildren. However, one of our neighbors moved to AZ, taking his three adult daughters with them. Plenty of job opportunities, and now has 12 grandchildren, all in AZ. All happy. That’s 17 less residents of IL.
Nothing to worry about here. The government can sieze your home to pay public pensions.
Why would anyone stay here if they had a choice — just to be taxed to the max — to pay the gold plated pension of an overpaid public employee