-- 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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The thing that astonishes me is that the motor fuel tax collection that pays for the road maintenance will go down because of more fuel efficiency and electric vehicles. The politicians do not mention how these fuel taxes will be made up. Will everyone or every company that will still own a petroleum powered vehicle, for whatever reason, subsidize the roads for the use of everyone? Will companies pass some type of a fuel surcharge again to all consumers?
When will there be another increase in the charge for the plates on the electric vehicles.
Thus creating a large increase in demand for electricity, but what is the plan to supply this electricity
Perhaps the good people of Illinois will be forced to pay additional taxes to provide subsidies to the electric power generators. Next the generating companies will hire some of Pritzker’s minions in the spirit of being thankful for the providing of the subsidy funds. That would be a neat trick and I’m surprised it hasn’t happened before in Illinois…oh wait…
After this bill is implemented, the entire state will be one polar vortex away from a complete blackout from Zion to Cairo. It will be a crisis with thousands dead frozen solid in their homes. It will be a national embarrassment and everyone will blame green energy. Our IL leaders’ response will be to ignore the critics, and insist that we just didn’t go far enough with green energy, and a new bill will pass making things worse.
Renewable energy is not ready yet, only in the eyes of the beholders pocket books.
I’ll drive gas powered vehicles until the day I can’t drive anymore. I’m all for technological advances, but we’re not close to creating EVs with sufficient range to entice me. My money says Jabba will keep a few gas powered cars in some of his many garages. That guy’s carbon footprint is huge! When I see him squeeze into a Prius I’ll think about alternative vehicles.
My range is about 250 feet for EV’s. That’s all the ext cords I have. LOL!
More enviro -idiocy. There’s a better chance of getting a million *flying* cars on the road than a similar number of EV’s by that date…
Pritzker sure is generous distributing taxpayer’s money.