-- 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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Oh come on with the hand-wringing.
This latest failed ‘green’ enterprise is a revolving door for pals to cash in and political animals to grift donations.
I’m not sure why this is news to anyone with a three digit IQ. There are numerous stories from all over the country that electric buses are a disaster. They cost too much. Maintenance expenses are way higher than promised. They don’t have the range promised. They don’t function adequately in cold weather. It’s just a lousy, expensive product that only the global warming goo-goos are fond of.