-- 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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From the article
>>The governor’s office was unable to give specific examples of businesses that chose to relocate to Illinois or expand in the state as a result of those earlier trips.<<
That says it all right there
With Illinois’ high workman’s compensation insurance rates and a labor force with a high propensity to unionization ut is going to cost a whole lot of taxpayer provided goodies to even think one of those companies would locate in Illinois.
JB, Britian doesn’t have a domestic auto industry anymore and perhaps you should focus your efforts on why that is….
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