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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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My buddy does work in the city and uses an expediter. Coincidentally the expediter is a former building department employee. Depending on the scope it adds about $1,000 to the job cost.
What’s a permit?
Street sense! You got it.
Not relevant to this string, but a recent Cert Petition from 9th Circuit may be of interest:
https://www.inversecondemnation.com/inversecondemnation/2019/06/new-takings-cert-petition-there-isnt-a-property-right-to-daily-interest-if-the-state-says-there-isnt.html – scroll to bottom for link to petition. Fowler v Guerin interesting 11th amendment issues.
That’s interesting indeed. Depending on how SCOTUS deals with it, it could well be pertinent to any federal “takings” issue on pensions in IL.
Newspeak for shakedown.