-- 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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How can a decision like this be vote “along party lines”? Don’t we have laws? or a constitution? in this state. I guess not in Illinois. We just have democrat hack politicians–and judges.
All the legislative and representative districts are not compact so that part of the constitution regarding redistricting (Article IV, Section 3a) is not being followed.
Some of the legislative and representative districts are not compact is a better way to phrase that.
No. Really. It’s ok. It is clear the labor group is firmly in control and it is them versus taxpayers. The labor group can live and manage the State as they see fit. Others will take their spoils and go to areas where government control is limited and power is not wielded by the few.
Exactly Bross!
Ditto. There’s no way I will stick around to pay for this after my kids are out of high school in a few years. It would take a full change in the General Assembly majority to fix it — and probably a new majority on the IL Supreme Court.
Same here. We’re just waiting for our son to graduate in 2 years. We recently attended a D128 college informational meeting where U of I was uncomfortably being pushed. There is NO WAY I would send my son to an Illinois university. He can capture more money from better schools out of state and I dread the thought of him finding a job in this state… ugh!