-- 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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You wont find a buyer and operator for that facility until Illinois comes up with a way to make it a”right to work” zone. The cat’s out of the bag with all of the auto manufacturers. They aren’t stupid. Just look all over all the right to work states. They are filled with dozens and dozens of new manufacturing faciliites that could have come here but didn’t. In three years demolition companies will be fighting for the demo contract.