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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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Taxpayer-Funded Electric Busses Are Sitting Broken Down And Idled Across The Country | ZeroHedge
We just posted a story on that. Electric bus maker Proterra, from which Chicago is buying, filed for bankruptcy. Its busses are a mess in other cities. Nothing reported on Chicago, though.
Remember, RTA’s patronage hires are wailing about the 50% farebox recovery mandate that they want the Springfield imbeciles to abolish. This would enable even more spending than is currently allowed by law. Transit agencies around the globe began playing with these oversized golf carts a few years ago. The results aren’t just terrible, they are an insult to the taxpayers whose hard-earned cash has been wasted on virtue signaling paper weights. After much fanfare and fawning press coverage from the utterly useless corporate media, the buses roll for a very short time before they fail, often with fiery results. Then… Read more »
Here’s all you need to know about electric buses. Asheville does not have Chicago’s cold weather or long bus routes either..
https://wlos.com/news/alexa/5-million-loss-for-asheville-as-flawed-electric-buses-sit-idle-interim-transportation-director-jessica-morriss-maintenance-director-john-mcdaniel-proterra
PACE is building a new temple to the cult of EV.
Perfect.