-- 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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ComEd got away lightly with the Madigan sting. Customers should have been given money back. That is what regulators and so-called “watchdogs” should be advocating. What did they get a $200m fine? drop in the ocean, peanuts to a firm like Exelon. Delivery charges on my bills are already high from both Nicor and ComEd. By shopping around for the best supply deal, my latest ComEd bill shows the delivery charges HIGHER that the supply charges for the first time ever. Any they want more money in rate hikes? I can only assume the regulators and watchdogs are as corrupt… Read more »
Comed and Nicor just love sticking it to us we’re the sun don’t shine along with Pritzker