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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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If the IL constitution says there must be adequate sureties but the SAFETY act presumptive releases larges classes of criminals without bail, this might be unconstitutional. The idea of a surety for crimes goes back over 1,000 years to medieval england. Despite what the bill drafters say, bail/bond was never about ‘how much money you have in your bank account’. Bond is a surety usually posted by someone else – because criminals rarely have any $$$ – ensuring the criminal’s appearance in court. Someone else had to post the bond. Most sureties were non-familial just like today with bail bondsmen.… Read more »