-- 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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It’s good news for those 800 employees. The recent cold snap however reminds consumers that EVs have a long way to go to be considered reliable. I think I’ll stick to the proven internal combustion engine.
Since you’re no longer living in IL, you can probably stick with that strategy. For us suckers still living here, Pritzker will likely make it more and more undesirable to drive an ICE vehicle; e.g., crazy-high gas prices, registration fees, etc. (not to be confused with the current, crazy-high gas prices and registration fees). That’ll cause more IL residents to relocate instead of being forced to buy an expensive EV.