-- 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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They should have never stopped digging the Deep tunnel project. Only mans hubris allows him to think that he has mother nature covered. And when you think that , she will slap you upside the head and laugh at your efforts.
“Clearly the Earth is speaking to us loud and clear,”
And what exactly is the Earth saying? That Deep Tunnel was a failure? Well, not a failure for those who’ve made millions from the never-ending project.
Deep Tunnel seems to work for smaller rains as long as the tunnel isn’t full. There isn’t an urban area in the country than can handle 5″ or 6″ of rain in a couple of hours without flooding. Overland flooding sucks, of course, but if you haven’t installed overhead sewers or a check valve BY NOW in the 80 years since your structure was built, shame on you.
Has anyone checked the Deep Tunnel for dead bodies? Maybe there’s no room for water.
It never should have ended. And big public works projects these days definitely cost hundreds of millions and sometimes billions. Someone always gets paid.
Billions spentnon TTarp sine the 1970’s and it still floods!
He then gave everyone a long straw and said drink to your hearts content! LOL
No that was Koolaid he suggested drinking