-- 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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The point of Pritzker’s CEJA was to raise energy costs for Illinois citizens, particularly for downstaters. Mission acomplished.
Imagine if the coal plants were open not only would generation be cheaper resulting in lower bills but also would employ a lot of out of work Illinois coal miners. A win win situation and that is why it is not implemented so as to rise utility prices and keep miners out of work. This provides for more people dependent on the Government and is a Democrat’s dream in Illinois.