-- 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 lawmakers and governor, all in the grip of the unions, don’t even consider who is paying for this largess: the taxpayers. Jb’s too rich to be affected by it, and all of them are getting paid by the unions. Illinois should change its motto from “Land of Llincoln” to “I got mine.”
So, how can the lowest bidder, that by law wins the contract, make enough to warrant doing the work if he has to overpay his employees? Look for cost overruns and inferior work performed by DEI heavy construction outfits.
Need to factor that in as the cost of doing business in Illinois when bidding out the job.
So the job always costs more than it would’ve if the labor costs were more effective? Why not, it’s only taxpayers money and there is plenty of that to throw around in IL.
The taxpayers keep voting for the same elected leaders that implement these policies that increase the costs to bid out a job. So yes, why not make the taxpayers pay more money for the policies that they continue to choose.
What a garbage publication. JB does nothing to help the economy or education, but is all over enhancements to protect union workers. They are a big reason the state is in the mess it is.