-- 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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Then there are other professionals, like home builders (general contractors), that are not required to be licensed in the state. Village building inspectors do not catch everything and based on our experience, they back off when there is a dispute saying it is our responsibility to settle it in court. There needs to be a way to hold the less honest people liable for their unscrupulous behavior and at least be able to report it so that other consumers are aware of problems. But glad to see Illinois cracking down on those barbers!
Close the border first!
These “reforms” are nothing more than a Trojan horse intended to facilitate the absorption of illegals into the economy.