-- 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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Uh-oh; here comes another “there, I fixed it.” Mass layoffs – no problem – Pritzker can easily offset this by increasing taxpayer subsidies until companies uninterested to set up shop in IL become very interested. Don’t you love these disingenuous ways of increasing business in IL by handing out massive taxpayer subsidies and increasing population in IL by letting in illegal immigrants?
Chicago was supposed to be the place to land a job. Jobs were the reason people came to Chicago and stayed. You put up with the crappy weather and the traffic because of your job. Not anymore. Fewer good full-time jobs–more college grads are freelancers and gig workers. Meanwhile public sector unions keep demanding more while too many private sector workers struggle.. Even if your job stayed in Chicago, who wants to raise a family there? Public schools are lousy, public transportation too dangerous and unreliable, property taxes too high, and colleges/universities too expensive because of administrative bloat, pension crisis… Read more »
Illinois ranks among the lowest state in economic activity. This will continue as long as they can steal elections and wield power.
Capitalist companies are ditching Illinois, Chinese communist companies coming in. Aligns perfectly with the politicians ideology whom are running this state.
Just sitting here waiting for Craig’s Chicago Business to come out with an article this afternoon on how Danville is holding on to housing affordability the best! What a useless liberal rag.
Keep Electing DEMOCRATS……………….you will have nothing!!!!!!!!!!1
It is just becoming so plain to see– Illinois is not the place to be if you want to run a profitable business. What is Pritzker going to say about this–“good riddance” like he said about Ken Griffin and Citadel? Talk to leaders in almost any industry– Illinois is at the bottom of their lists of places they want to open or expand. Folks who are already in Illinois are almost all quietly thinking about a strategy to exit. Heartbreaking to see. And you hate to say it but it is partially or largely the fault of the employees because… Read more »
Don’t forget that JB did nothing to keep Griffin from leaving Illinois along with many of his high paid employees and approx $30B. Griffin was instrumental in backing candidates that oppose the status quo. So Pritzker was more concerned what was best for him and NOT Illinois and it’s citizens.
I look for drunken Rich to not address this at all on his public union run sham site. OzTard Willy would says governors own to this article if our governor was not a Dumbocrat. PPF is somewhere sweating bullets about his pensions inevitable collapse in the ever-faster crumbling, unsustainable world economy.
Look, over there! Squirrel, over there! Can’t you see it! Mass layoffs, what, who? But there’s a squirrel running up a tree!