-- 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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Whoopie! Break out the champaign!
Completely absurd that Madigan and the Democrats were willing to destroy the state just to ‘get Rauner’. Pathetic.
Rauner not signing a budget did that. Rauner holding the budget hostage if he didn’t get “right to work” and pension theft did that. He didn’t offer up one cut to the budget but vetoed it anyway. The only thing Rauner accomplished was the resolve from democrats and unions to get Amendment 1 passed to prevent a Rauner 2.0 from removing collective bargaining. It’s now enshrined into our constitution because of Rauner. Well done.
The only resolution was that JB agreed to fund and support Madigan’s agenda and King Mike bestowed his blessing to run for Governor.
Big money and monopoly power has broken an already corrupted state. It will be a long hard fight to win the power back. Sad to say but its easier and financially prudent for most conservatives to move away if/when they can.
That’s revisionist history. Madigan said the day Rauner was elected that they would just wait him out and make his agenda DOA. Madigan decided to deny the will of the people the change they desperately wanted. Madigan decided to pass an insane budget that only make things worse and made no structural changes. Madigan, not Rauner, refused to work across the aisle.
And now Madigan is headed to die in prison while Rauner moved to FL. I know it’s a trope that Madigan was the boogeyman, but he really was, and the ComEd trial is proving it.
Here’s some older articles one from Reuters on the history of Madigan
https://www.reuters.com/investigates/special-report/usa-illinois-madigan/
http://rockrivertimes.com/2018/12/03/nearly-5000-bills-die-in-madigans-rules-committee/