-- 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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Illinois, run by Democrats, hates small businesses. This isn’t hyperbole. The ever increasing list of regulations make it extremely difficult, and costly, for small businesses to operate. I just saw an article about the 10 new ’employee’ friendly laws that Illinois just passed, that seemingly like a massive HR department just to comply with. And you’re a small business, oh well, too bad, you will be sued out of business. This is exactly how big business likes it, they use the state to destroy all of their small business competition. Before long, big business controls everything.