-- 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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“If he doesn’t make it to the runoff, and Mr. Garcia does, count on the CTU support flowing Mr. Garcia’s way. The teachers’ contract is up for renegotiation in 2024, so this year’s campaign money is meant to ensure they will be negotiating with a friendly mayor. A new contract could set conditions for five years or even longer.” If the Chicago voters put Johnson or Garcia in office they clearly want the city to be favorable to teachers during the upcoming contract negotiations. The CTU members make up just a small fraction of the electorate. They won’t be able… Read more »
With high inflation, I’m betting that the CTU gets at least 5% per year the first couple years followed by the remaining years tied to CPI. Probably looking at a 27 to 30 percent increase over the 5 years. I know some contracts in the suburbs that did just that. Inflation is eating up spending power and the public employees are going to collectively bargain to make up for it.
Meant to post this over here.
https://wirepoints.org/is-it-too-late-to-save-chicago-from-progressive-misrule-opinion-wall-street-journal/#respond
Posted to this article by mistake.
Think of the IL legal spending as a taxpayer funded gift to the Pritzker for President 2024 campaign. Youze generous chumbolones youze. And when he loses in 2024 you’ll get to fund the 2028 campaign. Pritzker is too dumb and has too much of his daddys money to take an election slaughter as a rebuke of himself.
Democrats doing what they do best, wasting tax payer money. What a disgrace the Pritzger circus is. What a disgrace the biden administration is. What a disgrace the entire democratic party is.
I believe they pass these unconstitutional laws on purpose, they know they are unconstitutional, its part of their plan…
It’s all about the $$$…
The state almost always retains outside counsel, at a premium hourly price…
These connected law firms collect their enormous (taxpayer funded) fees…
Then they “donate” to the very politicians who hired them, thus ensuring they will get hired for the next planned unconstitutional legislation…
Quid pro quo…..???
True, true, true. How many politicians are lawyers and there are no provisions keeping a politicans law firm from getting involved in these types of lawsuits as long as the pol stays away. Burke, Madigan are two that made millions off of state business. Daley #2 went to a law firm that got the parking meter deal for their client that cheated the city out of over a billion dollars while Daley was the mayor. Fighting this unconstitutional gun ban that has already lost in several states is doing exactly what you said, getting lots of money for connected law… Read more »