-- 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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maybe JB should spend his own money and open the plant. A new line of JB EV cars and trucks. just saying
Just one of many more to come. Illinois is not business friendly, and the taxpayer will pay a terrible price for that. They say one thing but then do another. Do not trust the fat man.
It mentions Caterpillar but it was primarily upper management and staff that moved to TX. According to an article I read a number of years ago Caterpillar has some assets downstate that are simply impossible to move due to size. OTOH they won’t be adding jobs in IL if they can help it.