-- 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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WHAT????????????: “With a two-teacher household and both of us off for a week, that’s a big hit,” Person said. “But I’m going to start to get worried about money at the end of this week.” ” SO YOUR HOUSEHOLD INCOME is well above the city average, likely close to $150,000 a year – you don’t even have to save for retirement because of your promised pension…but you get worried about money after a week or two of no pay? YOU ARE AN ECONOMICS TEACHER (according to the article!) THIS IS INSANE – THESE PROFLIGATE DEGENERATE teachers who can’t even manage… Read more »
Silly debtstor, math is for Republicans. Seriously, though, progressives truly are terrible with finances. But then again, so was their hero Marx.
Probably a home economics class with no emphasis on finance, but rather on health and community awareness
That inconvenient moment when idealism hits the brick wall of reality.
The brick wall of reality is that despite earning, by all standards, an amazing above average income, they spend every penny of it, and more, have zero savings, and can’t go a week without pay check.
I truly hope that the collateral damage from all of this is foreclosure, repossession and evictions. The CTU members did it to themselves.
On a related note, I have to buy a new car this year ,and I was going to buy another Chevy, but with their strike, they’re out of luck. Greedy employees. I’m buying a Jeep instead.