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To pay for the new $100 million emergency fund dedicated almost entirely to asylum-seekers’ health care, the county will shift planned spending around, tapping leftover funds from 2022 to seed it. While that money was initially supposed to shore up pensions, the county will draw down its Pension Stabilization Fund instead. The change of plans doesn’t impact the county’s efforts to fully fund its pensions by 2047, budget officials say.
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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Hmm, and to think I actually paid health care premiums and copays at one time……where can I get some help?
So instead of making an effort at averting a currently inevitable bankruptcy in Crook County’s beyond over promised pension fund, our heroes decide instead to award this to the bloated rabble who ignored our border and now reside illegally in this country. During a 2020 Presidential Debate pitting the President against Grifter Joe AND the moderator, the corrupt senile Grifter mumbled for the rabble to ‘surge to the border’ and they followed the corrupt senile Grifter’s marching orders. The President was called a racist for espousing what now appears to be entirely sensible restraint on the influx of illegals into… Read more »
The “migrant health care fund” is an investment in Cook County’s future Democrat voters. Hispanics are ever so slightly starting to lean to the right and even a small number of conservative hispanics could potentially upset the 100% Democrat dominance of Cook County. So of course, Democrat can’t leave anything, and like Tammany Hall, are buying off their constituent’s votes early. They may not vote today but they will be able to vote soon. It’s just a matter of time before they are all given amnesty, or states just give them the right to vote in non-federal elections. And if… Read more »
What opposition party would that be?
Who would have thunk, budget passes 17-0 in rubber stamp CC….to go along with, more or less, rubber stamp city hall & springfield
They are called criminal illegal aliens. Deport them now.