-- 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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With or without pension reform taxpayers are still going to lose. It is a matter of how much.
Not if they move to a responsible state that doesn’t rape its citizens in order to satisfy the money lust of the public sector pensioners
What is sickening is how high the cost is per citizen (>7k) even in what they consider the state best funded pension TN. So even in TN, each child is born indentured by a 7K yoke of pension debt It is sick. Our children are no longer born free, they are all saddled with an oppressive yoke of debt.