-- 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
I knew an immigrant whose mother lived in Canada with her son, but the mother had an EBT that her gainfully employed daughter used all the time down here in IL. There must be millions more stories like this. Let’s eliminate all these programs, start over again very slowly. Thank you.
And maybe people should be responsible and not have a family until they have a steady job, multiple revenue streams, built up a couple of years living expenses and have life insurance, medical insurance.