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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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“A lot of people argue, this statute is unconstitutional. No, the statute is constitutional when applied to the subjects it was written for. For example, I’m arguing taxes are constitutional, but when applied to a subject they were not meant for, they become unconstitutional. Why? Because they violate due process. They violate the rights that are secured in your state and federal constitution. So don’t go in and argue that it’s unconstitutional, argue that it’s being misapplied to you. … So in other words if you have 6 legal entities in a definition, with the first one ‘person’, it can’t… Read more »
Filthy sewer rats that run the IL Dem Party have nothing but contempt — for the people of Illinois whose lives as impacted by Democrat laws that coddle criminals, allow 10th month abortions for teenager (with no parental notice, require school libraries to let kids read pornography, strangle businesses and kill job.