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.
Really good news for Chicago’s Restaurant scene. Higher wages for tipped workers means lower profits. Should put the nail in the coffin of dozens of more Chicago Restaurants. More people out of work. Or you could just stop tipping in Chicago.