-- 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 think the Downtown Office vacancy rate is bad now? Johnson just said, “Here, Hold my Beer” with his new $21/month “Head Tax” for any business with over 100 employees.
The CME Group had threatened to move for years if a tax was placed on Every Trade Execution, but this time they just might up & leave anyway just like Citadel did…
Uh nobody in Chicago except the business owners care if that happens. That is not a concern of CTU and its meat puppet panic attacks.
The Illinois Chamber of Commerce should issue a Code Red Alert and tell existing businesses to leave Chicago and Cook County, then tell all potential new businesses to invest elsewhere.
This would get great national coverage across the US by letting everyone know that Chicago is a “no-go” zone for business.
This really needs to happen. The Chamber of Commerce has nothing to lose so they might as well publicize the truth about what a business in Chicago endures.