-- 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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Illinois workers already have the right to organize – this amendment has nothing to do with giving workers the right to organize. What it would do is give government unions even more power.
Please look into this amendment and consider voting against Amendment One.
“Grows” LOL. Union membership in Illinois dropped in 2020 and the 2021 rate is lower than 2019. But I’m guessing the “pro-union Illinois Economic Policy Institute” didn’t release this report last year to as much fanfare.