-- 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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The problem with hardwired smoke detectors (or at least just in my house) is that they require a battery backup and start beeping really, really loud if the battery gets low. Even though it’s on and hardwired. You can’t just shut off the beeping until, you know, the next morning when you can go to Walgreens to pick up the, you know, $3 a piece 9v battery. They just beep incessantly until that battery is replaced. The only way to stop the beeping is to either unplug the detector entirely from the hardwired circuit, or, shut off all the smoke… Read more »