-- 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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“The Illinois Secure Choice Retirement Savings Program requires that Illinois businesses with at least 25 workers automatically enroll their employees in a state-sponsored retirement savings program, if they do not provide a qualified savings plan of their own.”
Just wait until the state seizes the money. The state is taking 5% from people whether they like it or not ‘for their own good’.
This state is so awful.
Between all the onerous regulations and the idiotic minimum wage hike, the legislature seems bound and determined to snuff out small business in this state.
Yes, exactly. Get rid of the middle class. They want only a handful of rich people who will pay for everything (including everyone’s abortion) and then lots of poor people to actually do the work, or just mooch off the dole and vote D. That’s the progressive utopia.