-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
The linked article gives alot more information about the impact of data centers on local municipalities. A few items to note: One 100 word query on AI uses the equivalent of a bottle of water and that overall usage estimates far exceed the three billion gallons noted in the article. There are plenty of alternatives to cooling outside of the water from the Great Lakes: recycled water, closed loop cooling (reusing the same water), air cooling and immersion cooling which is more expensive but uses fractions of water. The data is out there for Illinois to look at and as… Read more »