-- 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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This plant needs to be stopped. Chinese must be desperate to choose IL with its bad tax policies. JB should have chosen an American company.
What other state would be willing to give the Chinese almost a BILLION dollars 1/4 already gone and nothing in return.
The best EV battery technologies/companies come from China, Korea, and Japan. They control the largest share of the market and the EV battery supply chain from the minerals used to the final product. In fact, Tesla makes it’s batteries with either a joint venture with one of these firms or with licensed technology from one of these firms. American companies aren’t really in this space and probably won’t be for some time, if ever.