-- 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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It seems pretty clear that, at some point in the not-too-distant future, IL will force its drivers to buy EVs, by, for example, having gas prices even much higher than they are now. If EV prices decrease significantly and battery technology improves (the former being a big “if”), I guess I’d be OK with the transition. If IL puts too much pressure on me to buy an expensive EV, that’ll just be another reason to move to another state.
We bought gas in Wisconsin, which is a short drive of about 4 miles, and saved $0.90 cents a gallon. 10 gallons put $9.00 extra dollars in my pocket. As I drove by the 3 local stations I raised my finger in a salute to fat boy Pritzger.