-- 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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$1.11 per therm for Nicor in May and .99/therm for Peoples gas. I turned back my water heater a bit and wash clothes in cold water and spin a few extra times then put in dryer. Maybe a clothes line soon for bulky items. What concerns me is natural gas prices last April/May went to .58/per therm and never went down. I hope $1.11 is for a short time and not what’s to expect next winter.
Short term unlikely it’s suppose to get worse, all by design Freddy