-- 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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Any kind of nuclear or coal plant, or even solar, unless exempt from taxes, would provide similar revenue benefits to localities. Expanding on Downstate Paul’s comment, I hope somebody is putting aside funds to pay for decommissioning these facilities when they are worn out or obsolete.
I would predict that the tax revenues for renewables will evaporate. So they should be putting 25% of revenues away somewhere. The only people who like these things are those making money off it. And then when it’s not in their backyard.