-- 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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Mark my words, 7-10 years from now, dozens of federal indictments will come from this clean energy boondoggle. This is the crony politician’s dream, to hand out tax payer dollars in the form of loans to politically connected renewable energy companies. We’ve seen how this works for red light cameras and video gaming machines, and that’s just small money. These renewable energy monies are going to be big monies because every utility user in the state will be paying for it. The legislators literally admit in the article that the biggest problem right now with IL’s energy industry is that… Read more »