-- 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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Yes, this law is great for struggling retail. Expect the retail-apocalypse to affect Chicago and more specifically, Chicago neighborhoods, more acutely. Pretty soon everyone will be forced to buy products from Amazon.
The small retailers that are barely alive dont have enough employees to be effected buy this crazy legislation. Theyre all paying there workers as contract workers anyway ,so are the restaurants.The small retail property owners in the neighborhood’s are also sunk from prop taxes, sales taxes & parking meters, i have neighboors that own commercial property that they havent been able to rent for ages…no pols care
Employeers will just turn everyone into contract workers, which will make it all the more difficult to collect payroll taxes..