-- 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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according to Hinz in Crains today JB & UAW are fighting hard to try and revive the canceled Stellantis EV deal and JB wants Springfield to pass real bad his $1 billion “closing deal fund” to try and get in on the EV biz….I guess it will look really bad for JB, UAW, Bidden admin & super union friendly Illinois with its new Amendment 1 if all the EV biz goes to right-to-work states with republican governors or Mexico (Tesla’s new plant). Meanwhile all the EV stocks and sales continue to crash as we head into a recession, Tesla’s down… Read more »