-- 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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This is a prime example of a bill that changes nothing, but legislators use it as “Aren’t I wonderful?” material to puff themselves up at election time. The seat belt requirement only applies to buses purchased or leased after July 1, 2031. New buses have already been incorporating seat belts. So this bill does nothing unless you’re buying a school bus that is already at its end-of-life in 2031.
Another Illinois unfunded mandate.
when did they stop having seat belts on school buses? they were on the buses when our kids were in school in the 80’s
Another cost that will be passed on to property taxes, never ends.
Be sure a shoulder belt is included.