-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Has the author of this article went outside and talked to a few people in Southern Illinois assorted former mining towns and discussed the issue with them?
Like the inane ‘tree’ article from the other day, I got 1/3rd of the way through this article, and stopped reading. And yet, I have no idea what is the author’s point. But I got bucketful of anti-racism and DIE. And there’s some science-fiction future vision for the area with electric cars and green energy or something. But I have no idea how these are related.
Why didn’t the state continue the FutureGen project? Have you ever calculated the amount of energy that would be required to replace gasoline? Short of putting nuclear reactors in every town AND electrifying all roads, it’s gonna be impossible to replace oil with green tech. It doesn’t take very long to figure out it’s about control. Imagine the cost of food next year at current inflated fertilizer and fuel. Between the inflation and the food and energy shortage, it’s gonna be epic folks.