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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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Seems like they are pushing for rules that certain bills that have bipartisan support to be voted on. How many of those bills that offer some sort of realistic reforms will be included. Property tax reform/pensions/term limits? and many more will not get bipartisan support. The word “certain” has me concerned. I mentioned this a long time ago. What good is your vote in Illinois if whomever you vote for and any bills they present have to go thru the speaker before they are brought up for a vote. Last I heard there were at least 5,000 bills basically waiting… Read more »
4,995 of the 5,000 bills in the shredder is a good thing considering the absolute nonsense they’ve passed the past two years. The problem with Illinois is that we have gerry mandered districts that discourage competitive races, so we get these nutjob ideologues and corrupt swindlers elected into office and they rarely leave. They all agree to pass each other’s wacky and crazy bills and suddenly a baby half in the birthing canal isn’t really a baby anymore, it’s a fetus, and the mother giving birth isn’t a mother, but an individual with a cervix. They never have to worry… Read more »