-- 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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Does anyone know 1) if there have been other injunctions filed and 2) where the states appeal goes next?
No Bailouts for illegal Lockdowns!
Very good summary of Governors options at the end of the article. At a minimum IL legislators may be forced to have a legislative hearing – it can certainly be done remotely via video-conference or tele conference. if the clowns of Chicago City Council can hold a council meeting remotely then certainly Madigan and the legislature can do so too. This will force legislators to vote to either continue or stop choking the IL economy and crushing citizens rights.
Right now Madigan and Pritzker have the best of both worlds. Draconian power and no accountability.