-- 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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Edison officials likely bribed the Madigan gang with lots of $$$$$ for many years. They are as dirty as the pols but close the nuclear plants where’s the juice gonna come from? The open market, buying power from various suppliers which will increase electrical costs. Keeping the nuke plants up and running will increase rates. No middle ground here. Keep the plants running and keep people employed is the best route to take.