-- 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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Demonic
LOL at city of chicago so glad we left!
The permanent victim class who caused the last two waves by having house parties, and looted, burned, did carjacking, committed robberies and destroyed Chicago will not get their kids vaccinated because of laziness and stupidity.
Meanwhile the pandemic is burning itself out. There is no reason to vaccinate anyone, much less children.
One doubts whether there is any recourse for this gross abuse of authority — giving away taxpayer money. “The constitutions of forty-six states contain a gift clause or otherwise impose a public purpose requirement for public spending. The Illinois Constitution contains a general bar on public spending for non-public purposes, stating: “[p]ublic funds, property, or credit shall be used only for public purposes.” In adjudicating challenges to public spending brought under this clause, Illinois courts have given “broad discretion” to legislatures in determining what may constitute a public purpose. The Illinois Supreme Court “has long recognized that what is for the public good… Read more »