-- 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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Break down the video – are you the type of person who:
Then the state of IL will pay you to be a less productive worker than those in private enterprise, taxing private enterprise to pay you. Get in on this ponzi scheme before the money runs out! And word of warning, the state already short changing the funding of pensions…
The year is 2035. Illinois shrinking population consists of government employees, gang bangers and illegal aliens. Privately employeed persons are as rare as a dodo bird. Hispanics make up 1/2 of Chicago. There’s a bill being debated to revert Illinois to a terrority again.
Want to be an overpaid, underworked hump beholden to the unions and Comrade Pritzger? Work for the State of Illinois!
State worker is an oxymoron.