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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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the vast majority of construction trades union workers don’t live in the city.
It will be interesting to see how Pritzker deals with this when the time comes for JB to endorse Vallas and his unions, or Johnson and his, or to explain why he’s not endorsing either of them. If the electricians, plumbers and operating engineers are endorsing Vallas, then it seems likely that members of the carpenters, ironworkers, teamsters, masons & etc trades would be leaning in the same direction. I can’t see JB tucking himself into a Speedo and swimming upstream against that Dem-faithful current. Problem for JB is that Johnson’s progressive-n-woke public-employee unions have funneled millions to Pritzker, and… Read more »
This is easy. Unions that actually work for a living support Vallas: Construction trades, FOP, IFF, Streets and San, etc. Unions that don’t work for a living, are made up of lazy parasitic vermin and want more socialist freebies support Johnson: CTU, IFT, AFSCME, SEIU.
Pritzker definitely falls into the parasitical vermin class
Maybe the trade unions finally realize that their interests are diametrically opposed to public unions. All unions are not created equal after all.