-- 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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It would have been nice if the elected officials did a pro/con summary of what this amendment did or didn’t do. Were any of the possible ramifications discussed at any level of government? This will be most burdensome to local governments. Where was the IML in all this?
They really crapped the bed here.
Just like the FAIR Tax amendment that voters defeated 2 years ago, the Workers Rights Amendment is a complete fraud that hides its true purpose and real world effect.