-- 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 federal government has not helped matters either. Just over two years ago the federal government allocated over $2,000,000,000.00 to install EV charging stations around the country. To date about eight, yes eight, EV charging stations have been built. Not exactly an inspiring start. Kind of reminds me of politicians who talk about climate change and rising oceans and then move to an ocean view mansion when they leave public office.
An excellent article showing how government industrial policy doesn’t work.