-- 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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So stupid. Don’t get me wrong, I would love to see clean energy replace fossil fuels, but not because of CO2, but because there are lots of other nasty particulates that we end up breathing in. However, electric cars are NOT viable in the midwest — batteries do not like the cold. Also the energy density of lithium-ion is horrendous compared to gasoline, not to mention they tend to catch fire… Regarding grid energy, solar is just too lousy and they are incredibly TOXIC to produce. The only viable grid option is nuclear. BUT, todays nuclear powerplant designs (Pressure Water… Read more »