-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
No matter what they promise it is not good enough. Anyone who does the numbers can see that taxes must go way higher than they are now. Businesses cannot vote in elections, so they are the first to get the higher tax bills.
Get used to it. Businesses don’t like having the deck stacked against them, and the anti business environment created by Pritzker does just that.
Another company joins the conga line of businesses leaving Illinois