-- 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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In the 1930’s many steam and steam turbine lines ran at 120 mph. And these were “regular” scheduled lines with daily filled tickets. The issue is not “money” as the article says, the issue is regulations no longer allow it. And besides it would be better to make air travel at the terminals more efficient for these short hops. Invest in cheap parking and faster air terminals than 50 billion dollar train lines that waste so much land and stall so much cross traffic.