-- 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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I’m sure all the temp labor companies picking up ‘new arrival migrants’ at city migrant shelters are abiding by these new bills and city is checking? ( NOT!!)
Another gut-punch for Illinois employers.
It means companies will hire fewer temp workers. They’ll give existing employees larger work loads. And if existing employees don’t like doing more work for the same money, they can go find a new job.
With all the illegal immigration, there’s a long, long line of illegal immigrants with fake SS numbers who will take that job instead, and work twice as hard for two-thirds of the pay.
And our progeny will never know what hit them. Democratic Party “progressive” policies.
Most college students leave the state, and even those attend college here, many are from out of state, and return home too. It’s a real life brain here. I fully expect my son will do the same. I’m spending the next several years visiting states with him as a family to find a great state where he can attend college and I can retire.