-- Connecting the dots between our economy, government and business --
Union chiefs and the politicians they support sit on both sides of the bargaining table. That was demonstrated again last week when Illinois Gov. J.B. Pritzker signed a whopping new contract with the American Federation of State, County and Municipal Employees (Afscme). Unions are running the table in Illinois because Mr. Pritzker and state Democrats essentially work for the unions that provide the cash for re-election campaigns. Big raises for union workers mean more union dues payments, which mean more campaign donations for the politicians who provide the raises.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Corrupt Pritzker is giving crooked union racketeers a stranglehold on Illinois
“Mark it down: Democrats will demand a federal taxpayer bailout when Illinois pensions become unaffordable.” Yep, exactly correct. Except for the fact that it’s self-evident that Illinois guvmn’t pensions are already unaffordable. Illinois taxpayers wouldn’t be in debt to their guvmn’t employee unions by an amount equal to 3 or 4 times the state’s entire annual budget-for-everything, if pensions and benefits for state employees weren’t already unaffordable. But, then, a large majority of us vote in favor of this excrement election after election, decade after decade. Riverbender has a point. Without regard to party, Illinois just constantly elects politicians who… Read more »
There’s no bailout coming for Illinois. They’ll never get 60 senators to vote to bail out IL. It’ll never happen in this charged political environment. The reality is many poor cities will default on the pensions after they’ve stopped provide essential government services. The situation will get so bad that the ILSC will have to do something about it, and find that ‘shall not be diminished’ in and of itself is unconstitutional or something. Probably due to race, too many retired white pensioners milking poor black/hispanic towns. It’s going to be a chaotic mess, for sure.
The Fed bailout won’t require 60 senators, and it won’t require taxpayers living in Fleas Itch, Arkansas, or Dogpatch ND, to make good on just Illinois’ foolishness. It’ll be some sort of convoluted and camouflaged approved-in-the-middle-of-the-night 2,000 + page Swamp-thing. Helped along by RINO’s and Big Doc & Big Hospital and Big Bondholder, and all the other stakeholders whose pockets are lined by all the money that lots of different states and counties and municipalities have promised to pay, but which they don’t have and never will. Just as the Fed’s also require all of us to pay for bankrupt… Read more »
Debtsor, in principle I would believe you but somehow they’ll make it a nationwide bill to bailout blue cities and states. It’ll could happen if dems are in control of all 3 branches of the federal government. Granted, it probably spark the 2nd Civil war.
There’ll be no Jerry Ford to tell em to pound sand.
A good man who did his best, and accomplished more than he’s given credit for, I think.
If by some miracle of chicanery an Illinois blue state pension fed bailout happened they’d be bailing out some VERY wealthy people. If you’re a cop or teacher, etc in Indiana or somewhere where your pension is nowhere nearly as good you got to be asken yourself why the F are my fed tax $ going to bail out Illinois and YOU’LL BE DEMANDING EQUAL PENSION DEAL in your state. Local state govs and taxpayers in fiscal responsible (red?) states would be in an uproar. —Maybe, the feds could offer some type of guaranteed super low interest multi decade loan… Read more »
The toxic mix of progressive politics and union stewardship under a Democratic banner, will, in the long run, will be the downfall of America. At some point in the future, when the US collapses, and the various regions form their own armies to fight each other, IL will be surrounded by Red states in every direction, with few guns remaining in the hands of its citizens, and the battle of the ‘Siege of Chicago’ will last about 12 hours before collapsing, as the city’s top heavy political structures collapse upon itself, as Chicago becomes a vassel of Indiana or Wisconsin.
Well I don’t think the cheeseheads will want us FIBS.
The usual these days in Illinois’ patronage political system and before fingers are pointed at the Democrats Republican Big Jim Thompson had a lot to do with the current system. We could add Jim Edgar for keeping Thompson’s system alive as he created the “Edgar Ramp” that plagues the pension program to this day.
Of course the Democrats are into this but the Republicans are as well. Illinois politicians…a class unto themselves
Guv Pigchop taking care of his masters da Illinois public sector unions!!