-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
“Lawmakers are calling this the culmination of coordinated local, state and federal efforts focused on the future of clean energy.”
Hmm, could this be code for taxpayer handout for a favored industry?
Nice to hear a success story. Now what we really need down here by me is the Illini Tollway, which was stupidly stopped by Rauner.
Oh my heavens someone actually said “no” to some must have Illinois spending party when it can’t pay its existing bills. Quoting Gomer Pyle “Surprise, surprise surprise.”
Did JB use any of his taxpayer funded $400 mill “closing deal fund” to make the Lion Elect Plant deal happen?
meanwhile, here’s Ford getting $9.2 billion dept of energy loan to build EV plants in Tennessee & Kentucky–OOOOOOOCH!!
https://www.wsj.com/articles/ford-venture-gets-record-9-2-billion-government-loan-for-ev-batteries-b0ed8445