-- 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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Thank you State Rep. Guzzardi for revealing yourself to be the idiot that you are. The EV market is on life support, and will be worse without federal tax incentives to support it. Any investment in EV manufacturers is high risk.
Pension recipients should have a voice in this, not just do what the left wants.
Climate Cleric Guzzardi doesn’t want U of I pension funds invested in for-profit businesses paying a return that funds pensioners. Ok. Fine. The U of I should invest its pension funds in ‘clean’ companies such as Lion Electric and Rivian. No bailouts, though. When the U of I pensions run out of money, pensioners should personally visit Guzzardi and tell him just how much they appreciate his devout adherence to the Climate Religion.
Separation of church and state? Fine. The Climate Religion is eligible.