-- 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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Sustainable aviation fuel is another fiasco. I happen to have been looking at it over the past month because it’s another subsidy under the Inflation Reduction Act. The costs are absurd — many times the cost of regular fuel.
Yep, but that likely won’t stop the Fat Man from blowing millions of tax dollars on it, government does not listen to their constituents, only to their donors. With the current government, there doesn’t seem to be any connection to simple common sense, pride in your word or responsibility anymore.