-- 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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My concern is with how hostile Pritzker and Biden are towards small businesses.
Just wait, we still haven’t seen the full effects of the minimum wage increases. I’ve noticed a lot of restaurants have increased their prices, some as much as 33%. Could be from covid but what will prices be like once that minimum wage hits $15. How many businesses will be able to pass on these price hikes, while there’s no shortage of dumb woke people are there enough to support these high prices.
High prices don’t matter when someone else is paying.
Thanks Captain Obvious!
Right is this a surprise?