-- 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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Well this is one of the least friendly state’s for business. And it goes beyond the confines of Government. The attitude of the would be employee is appalling. Businesses use to be attracted to the solid midwestern work ethic of potential employees. Now the work ethic is substandard. most Illinois employees as the lower and mid-tier has a world-owes-me-a-living attitude. So even if you solved the litigious environment, the bureaucratic overreach, the nasty regulatory environment, the high property taxes, and the crap schools, you still have a major issue due to the endemic lack of work ethic. In truth, the… Read more »