-- 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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Good news! Let it die in subcommittee. What a stupid bill!
As of today this bill has been put in the subcommittee’s grave yard for the rest of the year, maybe all the witness slips did work.
The more witness slips, the more they want to pass unpopular bills! They don’t represent the people, they represent an ideology … and that is what the communists in the legislature are beholden to.
I attempted unsuccessfully to file a witness slip. Wonder how many of us have tried, but weren’t able to file.