-- 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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Most other courts in IL are operating or operating remotely except for trials. Federal court, despite their slowdown, is still going, for the most part, full steam ahead. Cook County, of course, is a disaster. Partially because the court houses are not designed for social distancing (they’re designed to herd through the commoners) and because Dorothy Brown is so backwards that they still use carbon paper to write orders.