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If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
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.
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HOW ABOUT ENHANCING SOCIAL SECURITY????
Well, there goes the fully funded pensions by 2050! LOL
Long-term thinking is not what where elected officials spend their time or efforts, and I think you know that well enough already. They want “the best bang for the buck” in terms of their own job security, and that means prefering to think short-term. Has it ever been otherwise?
Exactly. As long as they succeed in ignoring the pension shortfalls, they will keep or expand for their own benefit.