-- 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 restaurant workers who lose their jobs because of this new law have a new minimum wage: $0 per hour. I guess the cerebral decision-makers of the City of Chicago didn’t think about that consequence.
another day, another poorly thought-out idea put into action in Chicago or Illinois
Tipped workers get PEANUTS if there restaurant employers can afford to stay in business, while CTU, FOP, etc city workers $$clean–up$$ on the taxpayers dime in bankrupt Chicago!!! Enjoy your EQUITY!!!