-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Collective bargaining should be gone for gubmint employees. What a colossal blunder.
It’s their constitutional right. America has a great history of allowing the people to vote for their representation as well as amending the constitution to its fair and just values. Why do you hate the constitution and America? You’re looking for a dictatorship where you are in charge. Not going to happen. Instead you can just be outraged when they exercise their constitutional rights.
At the very least, I would think any law or ordinance that requires employees to live in the city in which they work (ie: Chicago) could be overridden via collective bargaining. If I were a city employee, I would place a dollar value on the residency requirement and force the city to either a) compensate me for it or b) remove it entirely.
Let the games begin.
The residency requirement is a double-edged sword. The requirement is why real estate prices in the far NW and SW neighborhoods remain stable. The requirement creates the demand for these neighborhoods. If you let city workers move from Edison Park to Park Ridge, or Mt. Greenwood into Evergreen Park, just who exactly is going to buy up these properties? What demand is there to live in Oriole Park other than city workers who aren’t allowed to live 1 mile north of Higgins Road, or on the southside, 6 blocks west of Cicero Ave.? What’ll happen is that these people will… Read more »
That’s not the city employees’ problem, that’s the city’s problem. Virtually every other city and school district in Illinois does not require their employees to live where they work.
Remote work from florida
An article that does the amendment’s supporters the courtesy of identifying them as really reasonable people motivated by their intent to make things better for everyone by requiring more of the stuff that’s already not working as advertised.
Tells us nothing we didn’t already know, and does it at length and badly.