-- 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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And in recent news, State Farm Insurance is going to remove EV chargersfrom their parking facility due to the risk of fires.
So in the last 12 months, EV registrations in Illinois have increased 31,000? If that’s supposed to be good news for the EV proponents I must have missed something. Pritzker will be 90 years old by the time Illinois hits a million EVs on the road. Not sure I like the big guys chances unless he starts making healthier choices.