-- 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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You know what would bring even more jobs, investment & development? Making Illinois a buisiness friendly state where industries want to put their capital without any costs to the taxpayers. Believe it or not but that happens in states like TX. I know, shocking.
Here is the missing punch line, “enable the company to increase production of critical copper and copper alloy components that are used in electric vehicles (EVs), EV charging infrastructure and renewable energy production while supporting the state’s clean energy economy” meaning just more money thrown at a foreign corporation(German) to continue along Pritzker’s green headlines for his Presidential run paid for by the taxpayers of Illinois.
This is Fascism.
Really! $288,750 per job. Such a deal for us taxpayers.
And, according to St Louis Public Radio, “Wieland’s $500 million project will not bring any new jobs to East Alton, but it will maintain the current staffing level of 800 employees.” No new jobs but, as always, assorted headlines once again