-- 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 really isn’t that hard to figure out why Illinois has a problem when you think about the factors that are important to a manufacturing business. Property and income taxes– no relief whatsoever. Electricity rates– going up not down. Public education for workers’ children– disaster statewide. Union relations– as bad as anywhere in the country and just made worse by the Workers Rights absurdity. Quality workforce availability– blue collar workers getting less educated and college educated smart young people fleeing. Workers’ Comp costs– no meaningful reforms in past twenty years. What smart business person would jump into or expand in… Read more »
Jeeps are still going to be made, just not in business-friendly Illinois.
This is a cancer that just keeps getting worse. If you love Illinois get a government lacky job or risk losing your private sector job sooner or later. No business wants to do business in Illinois.
To be fair, the Cherokee is a dud. Sales are way down and it’s near the bottom in it’s class. It’s about as Illinois as a car can get.
Yes, but using RTA “logic” the Cherokee’s poor sales prove it needs more Big Government subsidies. Cutting production and workers when the market rejects your product isn’t the answer
A “dud”???? Sounds as if it is made in Illinois
Get ready for a giant “CLOSED” sign to be erected in Belvidere, Il. That facility keeps that city alive, it closes and Belvidere dies.
Doesn’t Stellanis know Illinois has the strongest worker protections in the country?!?! Don’t they know we just passed a constitutional amendment protecting workers’ rights?!?! It’s anarchy, I tells ya.