-- 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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Too busy hating Trump. Johnson will surely blame DJT for occupying all of his time.
Pensions costs will destroy Chicago and Illinois.
Will, already has.
Jelly Belly said he signed it because he didn’t hear any objections from Pinhead. Trusting any public policy to him is a prima facie showing of incompetence.Of course, the Chicago voters’ incompetence did come first.
Perhaps this is the canary in the coal mine. Now that this has been signed into law, per the Illinois Constitution it cannot be impaired or reduced. Next, we will have other Tier 2 pension participants want their pensions to be the same. Maybe they get it maybe they don’t. Perhaps this will bring the whole pension clause protection to a head and they actually change the constitution.
The gub hates the mayor. Plain and simple. Putzger wants this guy to fail
Hoping he’ll fail is like betting on the iceberg instead of the Titanic.
Pritzker had the chance to be the adult in the room. Why would he even need input from the city on this? Pritzker wanted to do this. Now was part of his decision to sign the bill simply to stick it to Johnson? Seems like it was on the list of reasons to sign. Of course, he’s not really sticking it to Johnson because it’s “his people, working families” who foot the bill.
For this lifelong Chicago senior, JB signing HB3657 is the final straw from CTU/Brandon, to Martwick, to almost all the Republicans who voted in favor that any of these ghouls gives a flying-f about any dopey taxpayer/homeowner chumbalones. Truely political violence, political RAPE, on an epic scale……EQUITY!!!!