-- 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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Don’t forget about the 1 Million sq ft Amazon distribution center being built in Beloit. Should open later this year and will bring 500 jobs. Casino there still in works with initial plans to open in 2021. Rockford casino will probably open at the next turn of the century due to all the red tape and hoops people have to jump thru. Illinois had zero “0” chance on the center but the Rockford airport should benefit due to close proximity. With all the new and more tax’s coming the best business to be in is plywood and making red tape.