-- 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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Even a blind squirrel can find a nut sometimes, and the progressives are getting this right. Non-competes and non-soliticitation agreements are not only pro-worker, but also pro-capitalist. Restrictions on labor is anti-competitve and leads to a restrictive hiring environment, where employees in certain industries are “stuck” at their jobs because they can’t work for a competitor. Ultimately, the consumer pays price, as any moat or anti-competitive restriction on a product or service leads to higher prices for consumers. The downside is that most states will still enforce restrictions, and Illinois will most assuredly lose jobs to other states that honor… Read more »