-- 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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Someone needs to check the OP Aldermen’s bank accounts for large “donations” from ComEd. They ran the same scam back in the late 60’s/early 70’s and built condo buildings with all-electric-everything. You could not give those things away today due to the utility costs. We’ve seen this movie before, and it ends badly for the rate-payers. Did we learn nothing by finally putting Fast Edy inside?
Courts in CA have already overturned these Marxist power grabs — the People’s Republic of Oak Park is next.
Before everyone jumps on the electric bandwagon , would someone please look at the strength of the power grid . Add up all the new electric needing appliances and see if the grid will hold up.
A lot of gas emanates from the Oak Park town board.
Oak Brook (and Evanston), leading the Chicago Metro area in ILliberal, REgressive policies. Wonder how Oak Park feel about burning wood and Coal? Hah
Electricity rates are already high, AI will be requiring more electricity, EVs demand electricity, yet OP is ignoring cheaper sources like natural gas. And what effect on climate change does a small suburb like OP have by banning fossil fuels? How much of the electricity powering OP comes from fossil fuels?