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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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Do these people have any idea what a logistical nightmare unionizing legislative staff would be? The General Assembly doesn’t run like a factory with predictable schedules — particularly not toward the end of session when the members all scramble to pass last-minute legislation. On the other hand… maybe if the legislative staff all insisted on only working 9 to 5 Monday through Friday and getting paid overtime during late night and special sessions, and refused to do anything that wasn’t in their contract, maybe the members would have to STOP having late night/overtime/lame duck sessions and that might be a… Read more »
Legislative staff were already covered under the Workers Rights Amendment. This is Welch pretending he’s actually doing something pro-labor.