-- 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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That filthy rich 1%er had better start spending a tiny slice of her huge profits to provide her employees with what they are owed: a living wage, housing assistance, transportation assistance, free healthcare, free education, free child care, a full pension, profit sharing, plus paid time off for school conferences, pet care, elder care, and vacations. This is just for starters
$15.00 an hour and unions for her workers!