-- 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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I bet if you turned Mailee Smith’s article into a quiz and gave it to the legislators that voted in favor of putting this constitutional amendment on the November 2022 ballot, the majority of them would flunk the quiz.
And, if a majority of the the legislators could not pass a Mailee Smith quiz about the proposed union constitutional amendment, certainly a majority of voters would not be able to pass the quiz. So what is the point of having a union constitutional referendum if the majority of the voters do not comprehend the content of the referendum? The point is to satisfy unions. It’s a union power game allowed by a bunch of legislators that are, for example, uneducated about the topic, support unions, afraid of unions, and no doubt there are other reasons too. This proposed amendment,… Read more »