-- 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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Should be a Lamb Duckling session, listened to AM 560 Sunday Jennie Ives and today Dan And Amy and according to the two politicians interviewed there is not a damn thing being done, no discussion on Property Taxes, Illinois budget, and it was brought up about are great useless speaker Chris Welch and how many of his staff is resigning or being fired among other issues not being handled.
Put in a new conveyor belt? For whom? Why doesn’t the company do it itself if it’s so wonderful? Why isn’t charity the choice of the giver? We pay and ComEd deducts as a program cost? Magic money in a state that’s close to bankrupt.
“Under one measure, customers of Commonwealth Edison and Ameren would pay into a pool of money that the companies would use to expand energy efficiency.” So, this sounds like ComEd customers would pay into an escrow account for ComEd to manage. We’ll put this one in the “what could go wrong?” category.
It would be great if Comed and legislators would figure out a way to lower rates instead of trying to hide rate hikes in language calling it the “common good”.
“ Redistributing the wealth “, just as your commie overseers in Springrad want it.