-- 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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April Perry’s political disregard for law was fully displayed in the lawsuit I brought against Bally’s and the City of Chicago. As you may recall, white males were expressly barred from a securities offering made by Bally’s. In a ruling against a TRO I sought, Perry decided that the lawsuit would fail because of no state action. https://libertyjusticecenter.org/wp-content/uploads/Order-Denying-Motion-for-Temporary-Restraining-Order_Glennon.pdf. That was an absurd ruling on its face since it would mean that Bally’s could likewise have discriminated against blacks, Jews, women or whatever. It was certain that Perry would be overruled on appeal, so Bally’s and the city surrendered and removed… Read more »