-- Connecting the dots between our economy, government and business --
"While the evidence is largely anecdotal at this point, the pandemic appears to have outlasted the PPP funds for a growing number of small businesses...That’s the case in federal bankruptcy court in Chicago, where a handful of Chicago-area companies filed for bankruptcy after receiving PPP loans of at least $150,000, according to publicly available SBA data and court filings."
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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Lucky Business who can bankrupt and start over in another state. The best day of their lives.
Kiss Illinois good bye.
All Cops, Teachers and Firemen will get raises. The poor honest hard working taxpayer will get a raise in taxes to pay for everything.
Illinois Sucks because of the greed of the Pension money.
The relief for small business that is needed can only come from J. Beluga Pritzker, “Governor of all of Illinois”…
HAIL THE LEADER!!!