-- 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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Rivian promised 500 jobs for nearly $850 million. The Dems were tripping over each other to congratulate themselves. The town of Normal was putting in new roads and infrastructure for the benefit of Rivian, and the newly transplanted employees were creating a strain on housing. But like all IL incentives given away on the backs of taxpayers, reality set in and losses abound and now Rivian wont provide details of their operations, despite receiving hundreds of millions from IL taxpayers. Our incompetent governor did it again and either didn’t put accountability in the contract or refuses to ask for it… Read more »
How many BILLIONS did Biden just give this outfit?
Wasn’t the company coming here one of Putzgers podium smiling ,mic dropping moments about bringing jobs to Illinois ? Oops another one bites the dust