-- 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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All of these complicated labor laws make it difficult for small businesses to operate. Which I suppose is the point.
Just one more reason NOT TO INVEST in Illinois.
So sad, soon only public sector jobs will be available.
So many businesses are moving to other states it is a stamped to get out of Illinois.
Your right. China also has the right political climate in Illinois to put their businesses here.
It’s humorous to read all the articles about California already having second thoughts and trying to walk back all their newly past workers rights bills, $25 min wage, etc (https://www.wsj.com/articles/californias-25-an-hour-minimum-wage-boomerang-newsom-healthcare-d86c8515)