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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 way to fix this problem is to hire more officers, not cancel scheduled days off for existing officers and force them to work 12 or 13 days in a row without relief.”
Just blow the magical horn of plenty and thousands of qualified candidates will sign up for the next CPD exam! You know, after years of treating cops horribly, and defunding the police, and charging them with crimes for doing their jobs, sure, 1,500 super qualified new candidates will suddenly appear out of the horn of plenty to fix Chicago’s chronic police shortage.
If anything, these Mt. Greenwood & Beverly cops would be smart to see the writing on the wall and plan their exit as quickly as possible. Those neighborhoods will completely collapse when all the police leave. Suburban living is great these days, I’m sure they’ll enjoy Tinley or Buffalo Grove more than Chicago anyway.
It’s probably too late, unless they are willing to take a bath on their house if they own. The window closed about two years ago to make the escape, and if you don’t move out of Illinois you are just prolonging the agony anyway.