-- 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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This has all the hallmarks of every crooked IL Democrat deal
OMA.
Open Meetings Act.
If they signed NDAs, it sounds like signed admissions that public officials discussed public business without legally necessary public notice.
Illinois law doesn’t disappear because local government bodies say it does.
If Governor strong-armed this suspension of Illinois legal protections of local communities, can anyone (other than Jenny Thornley types) in Illinois feel protected by ‘law’?
It will be very interesting to watch this unfold. I have high regard for the residents that are coming together to fight this underhanded attempt to sell out their town. They should make it clear that the political careers of those behind Gotion will be over should it proceed. And there should be a full review of any backroom shenanigans. Full transparency!