-- 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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Does it really count as a veto when he knows it will be overridden anyway? Does he think that this veto will prove he’s not in bed with the teachers unions?
Surprising that JB would oppose what’s left of his base on this. Perhaps he figures they’ll have nobody else to support. Anyhow, he is for some reason being sensible — Covid, in some cases, can make you sick, so as with any illness you have sick days so you can stay home. Maybe some political wise persons here can explain.