-- 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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Just in time for November 8, I received two different mailings from my township. I don’t remember getting such things in over a decade and a half that I’ve lived at this location. I’m guessing they want to remind voters that they exist. smh
The biggest drain on our tax bill is the SCHOOLS. 75-80% of our taxes go to the schools. The Municipalities and Townships are a small amount. We could also get rid of County Boards and extend the services to Townships and Municipalities. We have too much Government, but the cost to live in Illinois is the Schools. Politicians like Mr. Cronin will never name the elephant in the room.
True about the schools. Where I’m at there is one high school and it has it’s own school district. Its fed by 4 elementary school “districts”. All of them are stand alone districts with a district superintendent, asst super, office staff etc. 5 stand alone school districts, 5 superintendents, 5 sets of office staffs, 5 school districts budgets and all the assorted costs. One high school and a grand total of 9 elementary schools. Lots of cash being spent on district supers with a couple of schools to run. Try and change it, never, ever, ever going to happen.
This is a good example of the horrible consequences of Amendment 1. If it passes, every worker in the state would have the right to demand through collective bargaining that no consolidation would be permitted. They would be terrified by the potential layoffs from consolidation.
Mark–even though it’s survived court challenges, what about jbs cop & fire pension consolidation? Couldn’t that go up in smoke as well if Amendment 1 is passed?
Probably not. That legislation already passed, though the implementation is being held up in court.
Townships provide salaries for the connected insiders. Vote harvesting prescient committee individuals need a check to offset their gasoline bills incurred when hauling voters to the polls…what is so hard to understand?
Townships are a way to keep county-level services local. For example, a town like Oak Park or Winnetka can fund senior services for THEIR seniors via their small townships, keeping those resources for themselves. If those senior services were at the county level, they would be redistributed to poorer communities and the richer communities still paid the same taxes.
Sure, consolidation will help get rid of a few admin positions, but the cost/benefit for wealthier towns probably isn’t there.
I’m willing to make that trade to lower my tax bill. The reality though is that the township’s pension obligations would still exist for another 50-60 years even if the township did not.
Could passage of Amendment 1 make consolidation of the crazy 9,000 units of Illinois gov impossible or very hard? Could passage of Amendment 1 put the consolidation of all the police and fire pensions, already tied up in courts, in jeopardy?