-- 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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I read the headline and thought, wait, this seems to sensible. What’s the catch? And here it is: “small modular nuclear reactors”.
Of course SMR’s don’t really exist yet, the United States doesn’t have any, there’s so plans to have any for 10 years, and there’s no plan for the nuclear waste.
Next, the Senate should pass a bill authorizing unicorn flatulence as our preferred energy source!
Another progressive virtue signal!