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Ted was on with Jeff Berkowitz of Public Affairs to talk about the potential impact of Amendment 1. If you need a rundown of all the important points of the amendment covered in just 5 minutes, this video is for you.
Visit Wirepoints’ Amendment 1 hub page to learn more.
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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Ted makes the same point I have been making about the “no diminish” clause. The rigid pension clause has been bad enough for Illinois. Another rigid “no diminish” clause would do vast harm to Illinois.
All you need to know
Then vote YES on Amendment 1. Tell Illinois politicians that you don’t want to weaken union rights. Vote Yes 4 workers rights.
All private sector workers are covered under federal law. Amendment One is specifically for public unions. Private sector workers will receive no benefits from Amend 1. Public unions will ruin the state. Tell the truth!