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The House China Committee has no lawmaking authority, but it can conduct investigations and lengthy research projects, issue subpoenas, issue policy recommendations, and seed all of its work into other House committees with authority over major budget and legislative issues. In short, this is the beating heart of Congress’s policy agenda on China, giving Gallagher, of Wisconsin, and Illinois's Krishnamoorthi outsized voices on what most in Washington consider the new, defining U.S. foreign-policy challenge; What the committee sets its sights on next is a good indication of where U.S. policy will go.
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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If Raja is in the driver seat, get off the bus. That thing is going off the next cliff! I seriously doubt Raja could run a lemonade stand.