-- 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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There’s already a state of the art Motorola semiconductor plant just sitting mothballed in Harvard, IL. During a 2 year chip shortage not a single manufacturer expressed interest in retooling it and opening it back up and yet we are to believe a small tax break is going to lure them here when a global chip shortage did not? Libtard logic.
HAHA! Good luck when they see the taxes.
“until we can convince either the federal government or our sister states to stop that race to the bottom, we need to race to the bottom.”