February 28, 2016

White House Chief Advisor Exhibits Government Pension Abuses

[From article]
The City of Chicago is being fiscally devoured by pension obligations run up by politicians buying votes.
[. . .]
Pension costs overwhelm the city’s ability to deliver any actual services, and the tax increases necessary to pay for both services and pensions predictably could drive away businesses and residents, leaving behind another Detroit.
[. . .]
Valerie Jarrett, President Obama’s supreme consigliere, and, many believe, the de facto president of the United States, while the nominal POTUS plays golf, watches televised sports, and stays current with the latest TV shows and rap music?
[. . .]
Now 59, Jarrett had collected a total of $306,080 in pension payouts as of last summer, records show. That’s more than 27 times the $11,132 that she paid toward her board pension through payroll deductions from her CTA paychecks.
Besides her CTA pension, she makes $173,922 a year in her role as Obama’s senior adviser — a job she has held since his first term in the White House in 2009.
If she lives another 20 years – not an unreasonable lifespan by any means for someone receiving top-notch medical attention – Jarrett will end up taking a million bucks in pension payments for eight years of part-time work.
Why should anyone get decades’ worth of pension payments for a few years of part-time work?


February 20, 2016
Valerie Jarrett is the poster girl for Chicago’s pension crisis
By Thomas Lifson

No comments: