-- 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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yet another incentive for businesses to move out of Chicago or not to set up shop there
This is another government solution to a government created problem. Government allowed crime to spiral out of control. Police arrest large numbers of black men, nationally it is estimated that over 1/3rd of black men over age 18 have felony convictions on their permanent record, likely higher in high crime Chicago. Employers of course don’t want to hire criminals so we have an underclass of black men, upwards of 45% of young black men are jobless and not in school (https://chicago.suntimes.com/news/2019/5/3/18623322/45-of-chicago-s-young-black-men-are-out-of-school-and-jobless-new-report-says). Government’s solution? businesses MUST hire criminals or else go through long bureaucratic processes, in writing, explaining why they aren’t… Read more »
That article was from 2019, citing 2017 statistics, so it was pre-St. Floyd’s overdose. The article tries to blame racism and networks of white privilege why young minorities can’t get jobs. Which is super ignorant and naive that these people really believe that to succeed in life, you need to operate in an entirely nepotistic world. I’ve had people tell me this in the past, my ‘complexion connections’ are what help me get jobs. Which of course is not true whatsoever. I got myself an education and proved myself over and over again as competent and trustworthy, that’s how I… Read more »
New Chicago Ordinance Forces Businesses To Hire Violent Criminals
Wow, basically an employer better have legal representation when hiring anyone in Chicago…..and this is just one of the new crazy employee rights laws chi/ill has passed