-- 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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Mayor Raggedy outfoxed again? Say it ain’t so, Joe!
Last I read, ShotSpotter said they were not going to renew with Chicago. Sounds a bit sus now that they did renew short term. What kind of company would renew the contract short term, when a mayor says their product is racist?
Indications are that it was renewed through the summer at only slightly less than the cost of a whole year’s contract. That mayor Raggedy is about as good with numbers as Janet ( Inflation is good!) Yellen.
“Shot-spotter” is requirement of DNC contract with City of Chicago. Only reason contract was extended short-term.