-- 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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Pritzker is setting dangerous precedents and future leaders will surely exploit. His position is that he doesn’t have to obey the constitution, and the only limits to his executive power is the Supreme Court’s interpretation of the constitution. He can do whatever he wants until such time, maybe weeks or months, or years, until the Supreme Court tells him no.
This is the definition of tyranny.