-- 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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GREEN GRIFTER ALERT: Illinois Wants Biden Bailout Bucks Green Energy/Electric Car Fraud
Will this be a “create jobs” issue for copper thieves.
Illinois engages in a lot of uninformed policies and ridiculous laws (take the SAFE-T act for instance).
And this one is a doozy.
With all the problems Illinois faces, social and financial, it’s ‘full steam ahead, damn the torpedoes!’
VOTE THE BUM OUT!
So, for .64% of vehicles registered as electric, they are going to strain an already over stressed electrical grid…?
Makes perfect sense for IL…
Agree. No forethought whatsover. It’s not just the electrical grid but also the price. Look at natural gas prices. Nicor is still at $1.24 per therm for August. If this continues heating bills will be double that of last winter and 4 times that of 2 years ago.
Look on the bright side Fred. I expect wood burning stoves to make a come back in urban areas and many Chicogans need the exercise of chopping wood and using an iron wedge to split them. It will become a part of your daily routine.
I’m surprised the Dems haven’t leveraged this development.