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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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Illinois sure screwed up with the Clinton County power plant some years ago and why would it be different today? According to Wiki “Due to inflation and cost overruns, Clinton’s final construction cost was $4.25 billion ($9.68 billion today), nearly 1,000% over the original budget of $430 million and seven years behind schedule.
Just the same old stuff warmed over
When the wind doesn’t blow and the sun doesn’t shine those little atoms keep on pumping out the juice.
Wow, Tribune sure has the facts wrong. IL has a moratorium on new nuclear. The legislature and Pritzker through CEJA recently merely extended the live of IL nukes until 2050 because there was no alternative.
Wrong facts? Or deliberate lies? We are talking about journalists at the Tribune here…
Excellent point.
When they were threatening to shut down Byron I asked, how are they going to provide electricity for that area? In all Pritzker’s bloviating I never heard an answer.
Does Pritzker have a big stake in back-up generators? In Illinois it will probably be a growth industry – assuming he doesn’t mess with natural gas too.