-- 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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Champagne popping, marching bands. And huge money for 50 employees. Putzger u are a loser
Companies are moving out due to his high taxing policies.
State is basically paying the salaries of these people and they probably all will be foreigners on visa just like Rivian.
Notice the Gov does not mention the cost of the “incentives” to help get these guys here. Someone leaked that it is over $150k cost to the state per employee. And Whoop de doo! 50 jobs. That’s fewer employees than construction of one large apartment building, or a big MacDonalds, or a big hire at a downtown law firm.
With enough taxpayer subsidies, Pritzker can get any company to move to Illinois.