-- 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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I doubt if Amazon is that stupid. They know once the all of the infrastructure is in place, the Chicago political machine will start extorting Amazon.
Instead of of giving billions in tax breaks for Amazon which the taxpayers ultimately pays for-reduce the huge amount of regulations and taxes on businesses already there so they could expand. There are approx 230,000 businesses in Chicago mostly small. If half would hire just 1 person that is almost 115,000 more people working compared to the maybe 50,000 Amazon would bring in. Seems more beneficial in the long run for everyone especially the taxpayer