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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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The Illinois Constitution clearly supports the rights of public unions to collectively bargain. The very definition of constitutional.
PPF, you do realize that the federal constitution trumps the state constitution, right? And the story is about the federal constitution.
PPF in case you are unaware of the world outside of the workers paradise of Pritzker’s Illinois, there is federal legislation – primarily the Constitution and the Declaration of Independence – which override the Illinois state legislation. These brilliant documents grant the states very extensive autonomy and oversight within their own state boundaries but establishes fundamental rights to all of the citizenry. Including the citizenry being held hostage by criminal co-conspirators like corrupt politicians and their verminous public sector union benefactors.
I’m well aware of those documents. Particularly the contracts clause that prevents thieves like you from stealing from pensioners. But let’s review one statement in those brilliant documents. The powers not delegated to the United States by the constitution, nor prohibited by it to the states, are reserved to the States respectively or the people. Nothing in the US constitution prevents public sector unions. Where in the US constitution does it provide the US government the authority to prevent people from organizing in a union? Did the Supreme Court deny the ability of people to assemble and negotiate in a… Read more »
It must feel good to steal from unborn children. Biggest generational theft in history. The next generation is going to hate people like you, and for good reason.
FYI Taxpayers recovering criminally ill gotten gains is not thievery.
You’re delusional. No crime was committed so not sure what you consider ill gotten gains. Teachers, police and firefighters working their jobs for 35 years isn’t a crime. Being paid what they are owed isn’t a crime. Using collective bargaining to negotiate better wages isn’t a crime, in fact it’s a constitutional right. You have no proof of crime and no conviction yet you are trying to steal what is rightfully theirs. You’re a thief with no morals. You want to steal from public employees because you don’t like that they have something that you don’t. Too bad. Go cry… Read more »
Fact: Democrat politicians and public sector unions engaged in a multi decade votes and boots-on-the ground at election time and campaign contributions (bribes) in exchange for grossly above market wages, gold plated pensions and no work jobs. They then handed the bill to the real working taxpayers of Illinois. Quid. Pro. Quo. Criminal racketeering and organized crime. Period.
Of course Public Sector Unions are unconstitutional. Bust them all.
Unconstitutional, immoral, greedy, unpatriotic, unAmerican…
Believe it or not, at one time public sector unions were illegal everywhere. Even FDR was against public sector unions.
The fiscal mess Illinois is in is due in large part to the tremendous growth in public sector unions after WW2.