-- 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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Hey Brad, your pals in Springfield passed this egregious legislation seemingly designed to shutter Illinois businesses at an even faster rate and you have the stones to stand up and make the rules for me but not for thee? If this wasn’t a family publication, I’d use more appropriate words to describe this moronic requirement to give no-look PTO to employees of all kinds, including part time high school and college kids. You want the same exemption from this latest Springfield idiocy that the businesses who are taxed to pay for your part of the Government Industrial Complex sorely need.… Read more »