-- 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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Not the wages it’s the pensions.
Lets get to strike/lock out time allready. Rauners tatic apparently is to offer a net pay-cut with reduced medical. Take it or leave it. We all know afscme while asking for more, would accept a modest raise. Afscme has wobbly legs…but even they will stand up against a net pay cut. So let us get to the enivitable strike/lockout allready. Maybe Rauner has a plan to replace AFSCME State Employees, like Reagan did with the air traffic controllers, and have a huge jobs program filling the ranks of State workers with new tier 2 hires. Talk about your pension reform.… Read more »