-- Connecting the dots between our economy, government and business --
Head researcher Chuck Casto said 42% of Illinois small businesses could not make their rent payments in June, with lingering inflation and a lack of revenues also taking a toll on businesses nationwide. “Fifty-three percent told me that they’re only making half or less of what they made this time last year,” said Casto.
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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