-- 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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The epa is another job killing organization.
I agree with one of the commenter. The governor might as well prop this whole thing up and give a speech on how well the state is doing. It did strike me that a 48 year old is going to work one more year and here it is. Then I can retire with full benefits. While all the small business around the area are circling the drain. So how is amendment one going to help with that. the average worker in IL is gone. There is one bright spot that the Mayor of Rockford did’nt mention they are getting a… Read more »
jb needs his $1 billion “closing deal” slush fund to keep failing stellantis plant going for his uaw and union buddies on the taxpayers dime
Yes, as long as the taxpayer chips in, IL can keep this plant from relocating, no matter what the plant ends up manufacturing. Remember, from IL’s thinking, the taxpayer’s pockets are infinitely deep. With this thinking, IL can always declare victory in such cases. IL is a business-friendly state as long as the IL taxpayer inordinately subsidizes the business.
Read that manufacturing of the Jeep Cherokee is being transferred to Mexico and that Stellantis may be using Belvidere as a pawn in UAW negotiations (thus the ‘six-month’ shutdown and not a complete shutdown).
1,350 individuals and their families will be scrambling come February – hopefully there will be resources for them, though right now our sanctuary state,seems more interested in aiding and abetting law-breaking invaders.
What a CF!
I wonder how many of those workers voted for Amendment 1 giving unions all kinds of constitutional privileges? They did not realize the change in the constitution would not protect them, will drive jobs out, and companies that were considering opening in Illinois to stop dead in their tracks.
That would be an interesting thing to know, but, alas, we never will. The media blitz calling Amendment One a workers’ rights amendment likely influenced most of the public.
Who opposes workers rights?
It’s all about the packaging and big money packaged that one very well.
This is only the tip of the iceberg. Lots more plant closing on the horizon. The Chicago Mercantile Exchange will move one day (sooner than you think). Illinois has made the state a horrible place to do business. All the extra government taxes have made businesses less competitive. The private sector is doomed. What business wants to move in and pay for bills they had nothing to do with? Illinois business is DOA.