-- 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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SECTION 16. EX POST FACTO LAWS AND IMPAIRING CONTRACTS No ex post facto law, or law impairing the obligation of contracts or making an irrevocable grant of special privileges or immunities, shall be passed. (Source: Illinois Constitution.)Good luck IL pensioners.
If this stands, you’re up next.
Sweet justice for us regular citizens.
Locke, it applies to criminal matters only.
If a contract was entered into privately by the landlord and tenant, then after the execution of said private contract the state stepped in, mitigating factors aside, changing the rules on payment (obligation) and ability to action an eviction, isn’t this an example of the state ‘impairing contracts?’ Also, this is section 16 of the IL Bill of Rights. Why would this only apply in criminal matters? In the US system, the Bill of Rights limits the powers of Government, as I recall from civics. Hence, this should be a limiting factor on the power of Government? Thanks in advance… Read more »
Does it really matter. They defecate on the bill of rights and constitution anyway.
Ooh kinky!
Looks like I have my very own troll. That’s how I know it’s working.