-- 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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Sorry Jeff, but you and the rest of the insurance cabal have decided IL is fertile ground for price fixing. You get plenty of help from a government that demands drivers carry insurance but don’t enforce that law for some folks.
Gianniulis deserves a golden moutza,
Here Alexis take it, Feesa etho, parta.
IL is a huge insurance state with many companies based here: Allstate, State Farm, and many substandards, along with many brokers and adjusters, and many others have large offices like Zurich, CNA, etc. Progressive politicians are intent on destroying this as they destroy everything they touch. Everything, yes everything, in life to them is a problem that needs to be solved with a destructive touch.
Home and property insurance are also going up.
That’s so your insurance company doesn’t lose money on folks that don’t have any. It’s called equity. I suspect Com Ed is doing the same through their “ green tax “ on the bill, a tax which has increased disproportionately in relation to the cost of energy used within the last year.
If you have State Farm it’s going up about 12.3% a lot has to do with construction cost and rate of inflation, but also demographics and in Illinois I wonder who’s behind it, dare I say Unions. Remember we pay a lot in premiums for the Uninsured don’t think otherwise folks.
more now with all the illegals coming in