-- 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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What infuriates me is that Nicor Gas is $1.14 per therm for November but Peoples Gas is 71 cent per therm. That is 43 cents more per therm and every 100 therms used = $43 more plus taxes. The $1.14 is still almost 3 times higher than 2 years ago. I would like to know why Nicor is one of the highest in the state when most are around 80 cents or less..