-- 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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My junkers back in the 70s were about fifty bucks per year.
An expensive car will have a yearly plate fee that can exceed the monthly payment.
This reminds me of living in Michigan. Once upon a time the plate renewal was based on vehicle weight.
As vehicles became lighter they changed the formula so the plate charge was a function of vehicle sales price or current market value.
To make a long story short it’s two to three hundred bucks per year now for my economical type vehicles.