-- 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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Someone must have set an alarm clock for the out of touch Tribune scribes. Illinois’ high costs might create an anti-business environment? Really. Wow, what a brilliant discovery by the crack staff over there.
EV’s don’t hold their resale value, can’t take you on a vacation either unless you only want to drive 4 hours a day. That’s reason enough for me to stay away. Take a look at the prices of 5 year old EV’s compared to 5 year old gas cars. A 5 year old EV is gonna need a $20,000 battery in a couple years.
Here’s an article from Natural News about EV’s The cost for replacing the battery packs is rarely disclosed so if you buy the auto used the battery replacement will be very expensive.
https://www.naturalnews.com/2023-05-08-electric-cars-lose-value-twice-gas-vehicles.html