-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
This is why the automakers should make a no frills low cost $15K or less auto for around town errands. 100 mile battery which charges quicker than a 300 mile one. The average commute in miles is approx 37 per day. A hybrid for long distance makes more sense. The Chinese have a very inexpensive EV car but they are being blocked to import them.
Mazda had one that sold very badly for only maybe two years fairly recently and was available in only a few states. It was what auto journalists called a turd because it was so low in its sales figures. But, it did meet most of your requirements in its market design, cost and urban practicality. You might find it of some interest, and it was called the MX-30.
Thanks. Nice little car but this is what I was thinking of. The Seagull. $11K/190 mile range 30 minute charge but this car is not allowed to be sold here in the U.S. Most people could afford this at $11-$13K. For urban driving it is almost perfect. Pollution levels would drop in summer which helps everyone. Not sure on winter driving and charging. Our auto industry does not want this plus no federal or local tax credits needed.
https://www.businessinsider.com/byd-seagull-cheap-ev-electric-car-tesla-china-2023-4?op=1
Keep in mind that currently all electric vehicles run on coal so the air quality simply becomes a problem somewhere else.