-- 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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Don’t look now, but Canada is waffling on their tariffs re fuel to the US. Who else are they going to sell it to? The customer is always right.
I thought Illinois was a big agricultural exporter? But Frerichs is okay with Canada’s existing 250% to nearly 400% tariffs placed on these agricultural products by Canada, but instead calls out Trump’s significantly smaller proposed tariffs? He should be going to Canada to convince them to lower their tariffs on agriculture. Shows which side he is on – he is an anti-American.
Whatever the merited or demerits of Trumps tariff issue, Pritzker labeling them “a tax on workers” is beyond rich with irony. Fueled up the car in central IN at $2.89 this weekend en route the Chicago area, cutting through the near southside gas was $4.19. Highest gas tax in the country. One example of a tax on workers, there are a million more Pritzker could review.
Looks like the stock market is denouncing them too.