-- 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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“‘the Manufacturing Apprenticeship Accelerator was launched to provide a concierge service for employers in need of talent. … Skills for Chicagoland’s Future will also provide supportive services to new apprentices.’These services include career counseling, transportation assistance, professional attire and referrals for child care,”
Employers need ambitious, reliable people with good basic skills. Perhaps this program will enable to few of them to start successful careers. One wonders why, if the need is so dire, employers weren’t already doing this kind of thing. Maybe they are afraid that they’d get sued for some sort of discrimination?
There are fewer manufacturing jobs in Illinois because the manufacturers are leaving. Illinois has an incredibly unfriendly business environment, and the exodus of businesses and residents will continue unabated as a result. The fact that they only came up with $810,000 of taxpayer money to fund this initiative tells you that the free money from Uncle Sam is running out. That’s a rounding error. Don’t hold your breath waiting for a report on how this money made a difference.