The bailout of Exelon nukes comes right out of the schools

Jobs creators -- 30 years after the nuclear meltdown, the Great Arch at Chernobyl is finally completed.

Natasha Korecki in this morning's IL Playbook: 

It’s probably fitting that the Legislative veto session concluded Thursday with just about everyone going nuclear. Gov. Bruce Rauner dropped the first bomb by vetoing a Chicago Public Schools bill that blows a $215 million hole into the school’s budget... Then there were the actual nukes. A bitterly divisive Legislature came together to pass a massive bailout of two unprofitable nuclear plants...

Almost the exact amount...

The measure provides Exelon with $235 million a year as a reward for the carbon-free energy its nuclear reactors produce — a prize Exelon argued it was just as entitled to as the "clean" energy producing wind and solar industries. Without the money — financed by an increase in electric rates — the company threatened to close nuclear plants in Clinton and the Quad Cities.

Yes, "carbon-free." Tell it to the people of Fukushima, Chernobyl, or Three Mile Island.  Yes, a taxpayer bailout for nuclear giant Exelon, who raked in $29.45B in revenue last year. Yes, another assault on teacher pension funds.

CPS Board Pres. Frank Clark.

So there you have it. An even swap. Nukes for schools. A win-win for former Exelon CEO Frank Clark who now is president of Chicago's Board of Education and even has a privately-run Noble charter school named after him, as does current Exelon CEO, John Rowe, and Rauner himself.

I'm sure Democrats in the Legislature and environmental lobbyists believe they did the best they could. I might agree with them on the school budget. This was the work of our Trumpian governor and his fellow Republicans, buoyed up by Trump's victory last month. And Dems no longer have a veto-proof majority in Springfield (not that Boss Madigan was ever strong enough to use it when they did).

I'm sure IL Dems (even the progressives) will tell us that rates would have gone up or that they saved some jobs that would have been lost if they voted NO. That's questionable. Nuke plant closings are labor-intensive and take years. But giant taxpayer bailouts of unprofitable nukes (like private prisons) are not a solution to structural unemployment. The towns around the nukes all suffer from high unemployment and Exelon doesn't hire many unskilled workers. DeWitt County and Quad Cities unemployment remains higher than the national average despite the presence of the nuke plants. Maybe that's because of massive cuts to school budgets and the laying off of thousands of teachers and school staff and social workers statewide. There's also no guarantee that these plants will stay open long after the bailout or that layoffs won't happen.

I'm sure Dems and even some environmental groups like the People's Lobby, will say that I don't understand realpolitik and will explain how they managed to finagle millions in green money into the bill for wind and solar R&D and that nukes are cleaner than coal. I guess that's an example of the kind of choices we're faced with these days. A touch of green in exchange for corporate bailouts of potentially devastating nukes and lung-choking, cancerous coal companies (now supported by the Trumpians). Look at this as a follow-up to the Trump scam in IN with Carrier and United Technologies.

Democrats nationally have long been complicit is this charade. It was Pres. Obama who, in 2013, made G.E. Chairman Jeffery Immelt, a Republican, his top outside economic adviser as head of the now-defunct Council on Jobs and Competitiveness. G.E., the largest corporation in the U.S., a giant in the nuke industry, and a company that rakes in about $15 billion/yr., yet pays not a penny in U.S. taxes. They're also a big underwriter of corporate-style school reform. Funny how things work out that way.

It's lose-lose for the people of IL, especially children and parents of CPS and the rest of us living downwind from the leaky and dilapidated nukes.

WHERE IS THE HUMAN SERVICES BAILOUT? -- The National Association of Social Workers released this statement: “We commend the hard work put into the bailout for a corporation who posted a 2.27 billion profit last year, but humbly ask where is the bailout for the human service sector providers who are running up large amounts of debt to cover the state’s commitments? … We applaud the environmental groups who are getting entirely new spending on green initiatives through a ComEd rate increase, but inquire from the general assembly where is the bailout to pay for the spending for contracts that human service providers have already delivered on?”

I would add -- and for schools?