-- 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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Lesson One in Law School: “You don’t make me mad when you sue my client!” As long as judges are elected in Illinois, there is no disadvantage to public unions if laws are vague or contradictory. One lawsuit, including appeals, can delay almost anything for five or more years. Then, if the unions don’t like the result they can go to the legislature. Get it? Legislation bad; courts good. Courts bad, legislature good. Pension funds pay the union lawyers and taxpayers get to refill the reservoir. Meanwhile, taxpayers also pay the government lawyers. Not to mention that taxpayers pay the… Read more »
Perfect! Bogus bills–bogus results!
How about this….can a group of non-public union taxpayers, form a small public union….and then litigate that our well-being has been negatively impacted by IL political corruption–Tier 1 pensions—catch and release crime—most students from poor districts unable to read and write at grade level—massive IDES fraud much worse than the rest of the country—etc?
One ill fated piece of legislation undermines another piece of ill fated legislation…
Unintended consequence or the plan…?
CPD can also bargain to remove the residency requirement, or at least now be compensated for it.
I agree…
Economic welfare & safety…
Too expensive to live in the city AND too dangerous…
The (D)’s unwittingly (or maybe not?) provided the public employee unions the gun & the ammunition to shoot them with…
Please, oh please let the FOP leadership do it, full throttle, and stuff the dumb ass Amendment One as far up the politicians anal cavity as they can.
So then we can assume that there will be no constitutional protections for the citizens. Who would have thought that not only did Illinois become a police state but the citizens actually voted to become one.
I hope the cop unions jump on this constitutional right with both feet. Get rid of the things outlined in the article and let the pols moan and groan. Stupid politicians pushed hard for a stupid amendment and I sincerely hope it blows their cop hating, anti law enforcement and anti justice system agenda to pieces.
The enemy of my enemy is my friend.
The Immigrants? They can pay for your 2nd house in Naples
Immigrants aren’t the enemy. That’s weird that you think they are.
Also, my second home in that area is paid off. Some of us plan for our financial future. Looking at picking up a Sea Ray 42 foot cruiser in the spring. It’s obviously not a prudent purchase but you can’t take it with you.
Pirates drive cigarette boats, or is it smugglers? Live long and prosper — good that you have a prepaid exit plan. You’ll need the COLA for homeowner insurance premiums. But please don’t leave Wirepoints.