-- 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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Because government cant create value using subsidies. Any business model that needs a subsidy is not really a business at all. Government cannot create demand and supply out of wishful thinking and subsidies. When the time is right solar power will happen organically I suppose, it has a lot of hurdles here though. The main one being the lack of sunshine in Northern Illinois.
Funny how liberal plans/proposals never seem to work out as projected. Maybe they should learn something from that. But they only double down on failure.