-- 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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This is what happens when cheap power generation is replaced by Climate Cleric-approved green power. We don’t expect JB the Hutt to understand economics, but he should at least understand the grid operators do not operate in a vacuum and the same Bidenomics that continues to raise prices for all Americans also caused the power generators and grid operators’ costs to rise. This is what the old leftist ‘Fight for $15″ crowd simply couldn’t see coming, also due to their complete non-understanding of basic economic principles.
PJM may indeed bear part of the blame but there are many other causes, including Illinois’ overly aggressive green energy policies.
Which of course are ENTIRELY Democrat policies.