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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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And so they should lose the majority, for the sake of mankind.
But they will steal again.
Why is Anne Burke still Chief Justice with her husband under federal indictment?
Because it is Illinois.
Does a previous court decision about the scope of pension “contract rights” itself become a contract right? I expect not because courts overrule “precedents.” Consider an unlikely situation where the legislature eliminates COLA going forward. Seems to me that COLA is statutory. Or a different law that eliminates issues that can be collectively bargained. Would new laws trump collective bargaining agreements? Separation of power issues: It’s an essential element of state sovereignty that one legislature has the inherent power to amend what a previous legislature did. Take away or severely restrict the power of public employees to bargain collectively. Legislature… Read more »
A conservative leaning IL Supreme court would most definitely find some grounds to approve pension cuts and Pensions Paid First would cope and seethe.
Wirepoints got a cite in this Forbes article:
Beating A Dead Horse, Etc.: Here’s More Research On Public Pensions and the ‘Contracts Clause’ (forbes.com)
They’re not going to be able to steal these two elections. The rest of the state will be blood red outside of Cook County in November.
I hope the red wave runs deep across this country. We’ll have to tolerate last minute acts of desperation by the looney left, like student debt forgiveness and talk of law and order investment, but they’ll run out of time if inflation stays high.
Even parts of Crook County will be red. People are really really fed up. Turnout will be high for sure.
But they know they can steal votes.
The question is can they steal enough?