-- 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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Nothing like another statement of intentions to show they’re dealing with climate change on an urgent basis. Next step? Who knows, but we can put it on the shelf for a year at least.
Did they forget about hydrogen fuel cell vehicles? I’ll wager it’s not even on their little shallow minds. They have a range of 300 miles or so same as large electric batteries but can be fueled up in 5 minutes vs 30 minutes for all electric. Who wants to wait 30 minutes in freezing cold waiting to get shot by a drive by? Also where are we going to get all the lithium for the batteries? China of course.
https://www.bmw.com/en/innovation/how-hydrogen-fuel-cell-cars-work.html
Article shows pros and cons.