-- 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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Four masters degrees in journalism? Journalism has never had high paying job prospects. And what is her current employment situation?
What degree does the first man hold and what is his current employment situation? Universities are more than happy to indebt students with BS courses and degrees that have little future payoffs. I understand students may have interests and ideals but they have to be realistic about all the financial ramifications of debt and long term financial rewards.
How odd. You mean…when you sign on the dotted line for a loan…the lender expects the one who borrowed it to pay it back? Who came up with such an unfair scheme??? To those of us who busted our humps to pay for our sheepskin, these so-called forgiveness schemes are a huge insult. Forcing money from the hands of rank-and-file teamsters and plumbers to simply hand over to allegedly educated adults, who hadn’t learned to read by the time to apply for university studies arrived, is an even bigger kick to the stones. Did these urchins signing up for more… Read more »
Completely agree. You borrow the money you pay it back. Illinois borrowed money by not setting aside enough for pensions and now they have to pay it back. There is no magical legislative pen that can erase this debt. You borrow money, you pay it back.
Student loans are not dischargeable in bankruptcy, but boneheaded pension overpromises are.
Well played, but only a ‘nice try’ there, mr./mrs./ms. state pensioner.
Spot on RR. Old Joe paid back his student loans and so can these kids.