-- 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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”The council also voted 10-1 to cap third-party food delivery service fees, like Grubhub, UberEats, and Doordash, at 10% of the purchase price. This also restricts the delivery services from charging more than 15% of a restaurant’s monthly net sales.
Councilmembers said this vote is meant to offer restaurants more relief during this time as some of these delivery services charge up to 30% of the purchase price.”
question: how does capping delivery guys “offer relief”
Unfathomable
Just for background. Peoria added a public safety pension fee (growing every year) starting last year….tied to square footage of the property. This is a new request after this rather large increase just last year. We also have the “rain tax” here in Peoria. We have been told of an EPA consent agreement that we expect to add more on top of that. The local taxes are growing at a rapid rate.