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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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So now the criminal who is charged with a crime does not have to show up in a courtroom. Instead a savvy lawyer will display a Deep Fake with Chat GPT and AI dialogue to defend himself while the real criminal is on vacation. Maybe the judge and prosecuting attorney are also Deep Fakes. Something like Max Headroom 2024
Kind of a “ 1984 “ vibe to the whole thing as an innocent person could find themselves facing only monitors on a wall and not their accusers. Orwellian with a touch of Kafka thrown in.
This is one reason why downtown Chicago is so slow, half the lawyers in the state are working from home, have no intention of ever returning to the downtown courthouses again.