-- 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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Uber/Lyft are not transportation companies like taxi firms. They are an online broker for drivers offering to share their vehicles. The common carrier standard of care was never intended to apply to this type of situation — the same reason that carpool drivers who get paid for gas and/or mileage are not held to that standard. Just the latest example of how Illinois Democrats have no clue about the things they want to regulate.