-- Connecting the dots between our economy, government and business --
“Ultimately, in 2023, it was not the cost of food that kept the menu prices elevated,” one restaurant owner said. “It was the cost of labor.” Eighty-two percent of Chicago restaurants reported being short at least one position last June, according to a study from TouchBistro. Of that 82%, 40% said they were short on chefs — 12% higher than the national average.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
It is getting way too expensive to eat out. Insurance/property taxes are are rising rapidly. Stone Eagle restaurant is closing in a few days which was in Rockford for 15 years (lease not renewable) This was a good local place to go but a little expensive and it is being replaced by some chain not sure which one. This was one of a kind place. It seems here in Rockford food trucks are replacing brick and mortar places. We have food truck Tuesdays and through out the week their are food trucks parked in most shopping malls lots even Menards… Read more »