-- 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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How will employers fully exploit their employees with all this transparency?
If there’s a way to create more headaches for employers, count on Illinois lawmakers to make it a law.
It’s a feature to drive out small businesses. Big businesses tend to like these laws because they can afford the compliance with a large HR Dept and high priced attorneys. But the small business cannot. It ain’t small businesses lining the pockets of Springfield….as we learned from the Madigan trial, he wanted the big bucks from the big companies….Which is why our state has seen an exodus of small to mid sized businesses leaving the state while the large ones are still here. But even these anti-competitive laws favoring big business are not enough to keep big business here, they… Read more »