-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
It’ll never happen when you have elected politicians double dipping as a newly elected road commissioner in Plainfield, road commissioners using “work trucks” as family vehicles, part time work for full time benefits there’s a reason it won’t be eliminated Too much fraud and nepotism to go around
In suburban Cook county, there would few. Services if townships were removed.
Forty-six states have less than 2,500 units of local government, if Illinois put 6,000 units on the chopping-bloc we would have more than these 46 states! Start with the 1800s townships, then, move on from there. The Comptroller count for local governments is 8,529. Those in Springfield who do not support government consolidation/elimination should resign.
Doing so would make it easier to dissolve hundreds of unnecessary government entities — including the Cook County mosquito abatement districts — and incorporate their functions into larger governments.
The key words in that statement is “incorporate their functions into larger governments”. Doesn’t that mean nothing will be saved by getting rid of the smaller entities and most likely the employees will get more money and benefits? They will not be fired and maybe take early retirement if they qualify meaning they will now receive a pension and go back to work doing the same thing later.
“To his credit, Pritzker has focused on this issue almost since the beginning of his time in office.” What bullshit. Neither Pritzker nor any of his allies have put any genuine effort into it. All they have offered is a transparently token effort so they can claim they tried to “do something.” Ferguson and Greising are typical of the pussy-footers who have let this happen. Angry demands for real action are years overdue.
Agree 100% Mark. I enjoyed the colorful language…welcome to the dark side Mark!
This has been kicked around for decades. Though a good idea, it isn’t possible with the entrenched one party system in Illinois.
Just keep paying, citizens!
I think they will eventually reduce the number of IL local government offices. However, it’s unlikely that will result in any significant reduction in taxes and fees to the IL taxpayer. I’m guessing many of the employees in the affected offices will just be transferred to other bureaucratic offices. But don’t worry; the IL pols will advertise how they helped the taxpayers.
Slashing or merging local government entities would most likely save nothing and probably even cost more money. When and if two local entities merge, I’m guessing that the employees will fall under the more generous contract during the next contract negotiation.