-- 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’s a shame contributions to these retirement plans are not subtracted from taxable income like a traditional 401k. Give the participants the tax benefit now because it might not be there in retirement.
So the Government that put itself in charge of education has graduated a entire class of people who are TOO STUPID to take advantage of the programs that already exist. This is 100% on the failure that is public education. For cripes sake anyone with earned income can open up an IRA or ROTH IRA. You can save and invest outside of Government sanctioned accounts. How about PSA that berate people for not saving, for being too lazy to take a 2nd or third job and invest, who are too busy feeding the consumer economy to set money aside? Fiance… Read more »