-- 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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1 .If these guys are starting at $180K per year, what the heck is the tollway director making?
2. Add this quote to the long list of clueless or understated quotes from IL pols: “It seems excessive.” These pols are so insightful.
With $45 billion to spend, the patronage free for all trough feed is already no!!! Yee-ha!!
Parasites are uncommonly adaptive — Darwin lives!
It takes a lot of $1.00 tolls on an ipass to pay these government workers $186,000 a year, plus benefits. Seems excessive to me. Are there any jobs in the private sector that would pay these people $180,000 a year? Doubtful.
But if tolls are doubled it’ll be easier to pay their salaries! With taxes going up the tollway workers will need raises