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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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Who & what will it cost to monitor/ enforce Work Schedule Law? What’s the city going to do, hire hundreds of new workers (SEIU? AFSCME-members?), create a whole new department to try and monitor all the scheduling? how many $100s of millions/per year will that cost to enforce? heavens forbid city would outsource enforcement–sure they would have the unions in an uproar? or maybe bring in Dorothy Brown & her crew to make mountains of carbon copies of all the schedules & timesheets and maybe the Thomson Center could be used as warehouse (trying to think outside the box)?? but… Read more »