-- 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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I guess it’s time to run out and buy an EV.
There does seem to be more interest in EV’s by buyers in the new vehicle market when gas prices are higher. Not saying that would push me into an EV, but the higher gas prices go, the more interest in EV’s.
It has always baffled me that Illinois has higher gas taxes than Michigan +toll roads +wheel taxes but Illinois roads are not any better than Michigan’s. Where does all that money go?
Thank you, Joe Biden!