-- 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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There sure are a lot of people that have and do lives growing up with lead based pipes. Why all of a sudden is there a problem?
Good question.
I’m no chemist, but perhaps aging pipes deteriorate and are more harmful? We grew up with old pipes and don’t seem worse for wear.
Remind me again, how many lead lines have been replaced so far? 70? Yup, that was reported in April 2022. Note: the program was announced in 2020 and 70, yes, 70 have been replaced. Pandemic delay? Possibly, but 70 out of the estimated 400,000 lead lines in service? Even if they pick up the pace and replace 70 per year, it will take over 5,714 years The city REQUIRED lead service to homes until the Feds outlawed it in 1986. Let’s see … at even the low end, $15K per replacement, it will cost $6 BILLION; at the high end… Read more »
Hmmm….What is the criteria for replacement? Isn’t everyone with lead pipes qualifying? Like everything else Lori has bungled!
Say what???–“City officials estimate that it will cost $15,000 to $26,000 to remove lead service lines from each home or two-flat” Those prices would make the lead pipe replacement the greatest pork-barrel project is Chicago history. Unbalivable
And all lead pipe line replacement to done by City Water Dept crews on time & material bases and not competively bid? A shameless “where’s mine” scam of epic proportions. Equity for who??
Equity for who?? questions: —1.)Does City Water Dept offer any estimate or anaylis on how they arive at $15,000 to $26,000 lead service lines replacement cost? —2.) Does $15,000 to $26,000 lead service lines replacement cost include all the city worker crazy pension/benift costs on a full-accural basis? If lead pipe replacement was competively bid private companies include all benifit cost in estimate cost. —3.) City is advertising lead pipe replacement program as an EQUITY program targeted at low income folks of color, but how many of the City Water Dept Crew are low income, minority, or reside in neighboorhoods… Read more »