-- Connecting the dots between our economy, government and business --
The utility amassed $30 million in bad debt just in the first half of 2019, about double last year's pace, as heating bills continue to rise and collection efforts remain muted. The cost gets passed on to paying customers.
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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reason #501 to move to a state with a more moderate climate.
This is an eye popping articale…states by law peoples gas can pass on customers unpaid bill ( expected to hit $70 mill this year) to paying customers and are therefore under zero pressure to shutoff gas for nonpayment. Also, kwaume basically rolled over and allowed pg to keep spending w zero oversight on their gas infrastructure,,all past on to customers as price of natural gas plummets