-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Maybe Pritzker should read “The Art of the Deal”.
It’s odd Stellantis said they would idle the plant for at least 6 months rather than just closing it permanently. That means the plant will be closed next year during UAW and Stellantis negotiations for a new contract. It’s been opined that Stellantis could used this to extract concessions from the UAW which could be more valuable than the cost of keeping the plant open.
Yes, something funny may be going on here. Odd that Stellantis would pop this on Prtizker that way. Maybe trying to shake him down for more goodies.
Taxpayers ripped off by government again. Such a surprise.
Illinois is such a business-friendly state, why would anyone want to have a business anywhere else?