-- 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
Pritzker knew the whole EV thing was going to fall apart. However he felt by now that he would have ridden himself of Illinois and be holding a national office thereby escaping responsibility for the problems and wastes of taxpayers money that he created. Biden’s debate showing caused considerable unplanned changes in the Democrat’s presidential run including not selecting Pritzker, who now has to live with the problem he has created for the State. Meanwhile Crains’ continues to paper over these unfolding failures in its attempts to continue support for Pritzker’s Presidential run by shifting to a more or less… Read more »
Wait, how did Pritzker create the problems? I thought the voters were to blame for everything in this state. You mean sometimes we can put the blame squarely on the people actually holding office and making the policies? On the people who have been running things that are clearly not working?
Perhaps the voters will wake up to the fact that Pritzker will do whatever it takes to get that Presidential nod. Pritzker has and will make judgement calls unfavorable to the State in favor of getting himself a positive headline. The voters however choose Pritzker and so the ultimate responsibility at the end of the day is the voters that voted for him or the voters that didn’t make the effort to vote at all thereby voting for him. Let’s not forget Pritzker has been elected more than once so the Illinois voters are seemingly happy with him. Obviously the… Read more »
Cook county elected him, along with the Democrats not doing anything to prevent voter fraud. The Republicans need to put up a credible candidate for governor so voters have a real choice.
Hit a speed bump? More like hit a brick wall.
Chalk up another one for the CEO of Fantasyland.
“Ford Motors is backing away from EVs and reconditioning an EV plant to build high-demand Super Duty trucks.”
“Nissan’s EV earnings dropped 99% in the first quarter of the year.”
“General Motors delayed (perhaps indefinitely) the new Buick EV and a new electric truck factory.”
“Germany suffered a spectacular 70pc drop in electric car sales.”
Why EV Ownership Is a Ticking Time Bomb. – David Solway
Oh, come on, Crain’s. You merely ask the question whether EVs are the state’s golden ticket? State-sponsored EV programs are a complete disaster. And you ask what industries government should pick next? How about none? And there’s this: “The Chinese battery producer Gotion is ramping up hiring on what it expects will be a workforce of around 2,600 people, adding to what has looked like some serious momentum for the state as it preps for an electric-powered future.” Yeah, great, an arm of the CCP funded by $536 million in state taxpayer money and $6.5 billion in federal tax credits. Gotion is… Read more »