-- 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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What are the odds that Illinois inserting itself into a process will lower costs for its residents? Yeah, I thought so.
I’m guessing those double-digit increases will keep coming. I like how car insurance is renewed every six months, not every year. That way, your 5+ percent increase doesn’t seem as bad as it is. That 10+ percent increase per year is way higher than the inflation rate, or so the feds tell us.
Once, when I complained about an increase, the insurance employee told me I could always raise my deductibles. Wow, I didn’t think of that.
But Pritzker and Johnson say crime is down. In fact, there is no crime. It’s all a figment of your imagination….
All Alexi has to do is call Lib Mu as I did when my insurance rates skyrocketed on a 26 year old Buick. The lady without pause informed me that it was because I live in IL.
State Premium Regulation will soon be followed by State subsidies for the low income drivers who are forced to decide between driving or feeding their children. Just another step toward complete communism. Beware, comrade!
Want to drive one of IL few remaining businesses, State Farm, out of Bloomington? Just start restricting their ability to to set rates.
Restricting insurance companies from raising rates impacts all insurance companies doing business in Illinois regardless of their physical location. Moving would have absolutely zero impact.
More car thefts in 2023 than any other year in Chicago, while arrests were record lows. Why would car insurance companies lower their rates only to continue replacing stolen vehicles? Maybe the Secretary of State can light the SAFE-T act on fire to get the rates down. Otherwise, it is unlikely anything is going to change.
Chicago hits record high car thefts, record low arrests in 2023