-- 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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And this came out ahead of todays CPI, even 2orse.
It used to be that minimum wage increases also involved raises for those earning at or above the new minimum wage amount, not just increasing wages for those below the higher minimum. By chasing more dollars after the same production, minimum wage increases contribute to inflation. It’s all worthless money. Progressives or democrats like this even though inflationary policies eventually increase the government’s cost of borrowing. Higher borrowing translates to raising taxes, where the trend is to schedule increases based on the inflation rate. We’re told politicians believe automatic increases won’t ruffle the feathers of voters. Progressives supposedly champion progress, but minimum wage increases… Read more »
What???? You mean wage floors by fiat are ineffective? Must be the greedy business owners raising prices to line their pockets. Right, Duckworthless? Economics be damned!
Reality has once again destroyed a leftist bid to legislate the economy into their utopian fairness. Democrats and media types (I repeat myself) are the only ones surprised by this outcome.
The price of everything increases, which has been occurring forever. 😐
Violent crime prohibits people from eating unhealthy, over priced and surcharged fast food too. 😐
WOKE NONSENSE UPDATE: Not Only Has Chicago’s Minimum Wage Grab Killed Small Businesses — Now — Thanks To Biden-Inflation — That Extra Pay Is Helping No One Pay Their Bills
I would say it has to be a factor in why half the fast food restaurants in the loop still haven’t opened back up.
Let’s not forget the completely useless lockdowns that destroyed Chicago’s greatest asset, it’s Central Business District. Great job leftists, your mass hysteria over Trump and a cold virus destroyed our blue cities for a generation to come.