-- 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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Amendment 1 undermines the democratic process, insulating unions from the authority of lawmakers and voters alike. As a result, unions are insulated to changes in the political landscape, solidifying their power at the expense of legislative oversight and accountability, Voting for different representation will not help and union power will make it impossible to remove it from the state constitution.
Folks, things in this state are only going to get worse. Wirepoints warned us and did its best but not enough of you took it seriously. We the State wide tax increases have only just begun and nothing can stop it.
The -1 Goons are up late expressing their disapproval of expressing the truth.
Planning ? Illinois was taken over decades ago. See how well that is working out.
Oh, its going to get a lot worse.