-- 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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FoxxCON probably learned they could not put up suicide nets and they have to pay more than $1 per hour plus not able to hire children.
I would love to see a Constitutional amendment that bars favored tax treatment and individualized incentives. Corporate welfare is a growing problem, and it is distorting free markets, along with creating corrupt bargains at the expense of almost creating anti-trust situations that keep small players out.
If everyone gets out of the game, then policy will be set to apply to everyone, and the public will not have to play these games to subsidize sports stadiums, private corporations and foreign companies looking to prey on the political process.
It’s time.