-- 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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How about the use of eminent domain to hire a contractor to run the nuke plant for the State till things are properly sorted? It’s a public utility, not a point of blackmail. The true costs of running the plant will also be found out, as well as efficiencies.
Here is some info on Exelon This is a company that is not broke by any means. Why should we bail out or subsidize a profitable company? What’s next? Giving tax breaks to Amazon. Oh wait! We already do. Remember in a Ptell county the tax incentives are passed on to everyone else via a higher tax rate.
https://www.macrotrends.net/stocks/charts/EXC/exelon/gross-profit
The fleecing of Illinois taxpayers again, it just never ever ends.
How many acres of windmills and solar panels would it take to replace the generating capacity of the Byron Nuclear Power Plant?
And how many tens or hundreds of millions of Federal and state subsidies would be required to subsidize said development?
At this time Illinois does have excess power capacity and more reliable power than say for instance California.
Would China and Russia be happy if US energy policy results in less reliable US power?
Every situation facing Illinois taxpayers is the equivalent of playing Russian roulette with a fully loaded gun. This is a prime example as it involves two parties (the Democrat controlled State legislature and senior execs at ConEd) guilty of corruption at the highest level, and the ink hasn’t even dried on the federal indictments. Another no win scenario. God help us.