-- 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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After reading this law in its entirety, I see loopholes big enough to drive a Mack truck through that MIGHT make it ultimately just a liberal virtue signaling exercise with little if any practical effect. For one thing, it seems to apply mainly to PUBLIC libraries and library systems, not (directly) to school libraries. The only requirement it imposes on public libraries is that they adopt a “policy” against “book banning”, and that policy can be either the ALA Bill of Rights OR a policy the library composes for itself. As long as they have a policy on file, they… Read more »
Right on, Elaine. The bill is progressive hot air.