-- 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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Bilyk’s article in CC Record on this is a must read, WOW!! he’s a good writer. (https://www.legalnewsline.com/cook-county-record/more-lawsuits-more-biz-problems-il-law-rewrites-suit-rules/article_bec6aca6-bb8e-42c6-a319-4e1b0f3e51b3.html)
Yes, and we’ve posted it.
Can this bill survive court challenges? Sounds like there might be a lot of them.
Wow, this is the biggest under the radar, pay-to-play, $$ITLA$$ story hidden in budget and almost nobody in press is repoting on. An incredible handout to rich lawyers that will hit Illinois biz, workers & taxpayers from are dem machine overlord’s who claim to fight for the “working-class”. Astounding!!
All in JB the Hutt’s worker friendly, business Kryptonite Illinois.
Does an attorney who writes or votes for legislation designed to enrich lawyers have a conflict of interest?
“State Rep. Jay Hoffman, D-Swansea…said the bill is an initiative of the Illinois Trial Lawyers Association.”
This is blatant conflict of interest. De rigeur in the corrupt State of Illinois.