-- 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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Stellantis is trying to get as many incentives from the state as possible. They cannot get them locally since Belvidere only has approx 26K population. There are 100’s of millions in equipment since it is very automated. They will not let that go to waste. They should keep the same body design and just put in one 9 volt Duracell and say it’s now battery. Our pols wouldn’t know the difference. They should consider hydrogen fuel cells but won’t.
No business is going to ever locate anything in IL going forward as long as the Union’s are control of the legislature and constitutionally protected, the taxes remain high and the workers’ comp laws remain punitive to the employers. It’s over. The Democrats killed what was once the greatest manufacturing and business state in history.