-- 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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The City of Seattle is desperately seeking new police officers to fill the depleted ranks of the PD. Down to under 1000 officers the mayor said that police cannot respond to many calls for service and are unable to provide patrol coverage. Chicago police could not respond to over 400,000 911 calls in 2021, retirements are at record levels, resignations as well. Nobody is taking the entrance exams. Chicago will soon be in the same predicament. As usual, the voters are responsible for the mess they created by electing unqualified and unfit candidates, hence the problem.
how is that social justice working Chicago? Voters are to blame but don’t call the politicians unfit, they are doing exactly what they intended to do. The results are features not a bug.
And that she should
Meanwhile Larry Lightfoot is eating a snail (“escargot”) in Paris.
If you are having trouble telling the difference, the snail is the pretty one.