-- 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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These employers should target recent college grads, most likely they’re not collecting any benefits. Give them a bonus for every month they work until they find the job they went to school for. If I was an HR person it would impress me if a potential hire worked a lesser job as opposed to sitting around doing nothing.
What a stupid idea. You’d just end up giving checks to those going back to work anyway.
The money will then come from those who actually pay taxes–insentive to get a job and then get unemployment again after leaving the job.
So now the incentive is to accept the job, get the bonus, then quit a few weeks later?
Their true agenda is to force an increase in the minimum wage, something they know they cannot get passed in legislation.
The big push to double the national minimum wage might have had something to do with the pre-planned destruction of the dollar’s value through QE…massive inflation first to settle government debt, raise the minimum raise later. The new, higher minimum wage will have the same purchasing power or less than the min. wage before. Those who leverage debt might do well, but savers and retirees be damned. Anyone who has been trying to save money to flee a failed Blue city is back to square one in the misery index. Few understand what the real interest payments will be for… Read more »