-- Connecting the dots between our economy, government and business --
Lightfoot called the 3 percent COLAs built into public employee pensions "unsustainable" and implied Illinois needs a constitutional amendment to fix a broken system. She was right. Too bad she had to take it back.
Summary and audio linked here.
Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Summary and audio linked here.
Illinois paid the price for embracing Fauci’s “science.” Here’s the retrospective.
Podcast link is here.
COLA’s are not the highest priority in pension reform. Reducing the service year multiplier upon which the initial pension is calculated from 2.2 to 2 would add 3 years to reach full vesting, which is 3 more years of employee contributions and 3 less years of employees drawing a pension. The initial pension amount would be higher due to higher salaries, but that should be offset by the added service years and the trickle down effect on all pensions. Also, I would not allow pension participants to accumulate sick days and count it towards serviceable pension years. Sick days should… Read more »