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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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All these chicago progressive are getting there ideas from California and other lib states where low & middle income folk can no longer afford to live…rosa crazy idea is part of a bigger eco crazy idea to ban natural gas and heat are homes in a chicago winter w solar panels & wind power. How would bankrupt chicago ever pull off purchasing all of comeds exisisting infrastructure??.
The Guardian: Berkeley became first US city to ban natural gas. Here’s what that may mean for the future.
https://www.theguardian.com/environment/2019/jul/23/berkeley-natural-gas-ban-environment
” How would bankrupt chicago ever pull off purchasing all of comeds exisisting infrastructure??.”
They would just take it, then declare that the infrastructure is ‘legacy’ in today’s post-fossil fuel environment and thus has no value, so there is no need to pay for it.
Not to mention, how high are rates likely to be when they switch to non-efficient means of power generation? (i.e. every form of power they’re in favor of)
Progressive rate structure. Will I have to file my tax return with the ComEd every year to set my rates? And will there be retroactive increases too? Like if I had a good year, will ComEd come back and ask for more money a year later after I’ve already paid the bill? This is insanity – where two different people are paying for the same municipal service but paying different prices because of differing incomes. That means ComEd is now a tax – and not a utility. Leave it to the progressives to find a way to turn a necessity… Read more »