-- 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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All this data is meaningless unless we know the financial success. Each speeding ticket has a dollar value attached to it. So, the true success of tickets written is the revenue generated. The next phase would be is the amount of revenue actually collected. How much has been excused? How much is delinquent? There’s more to this story!
Any stats on which folks are actually paying the tickets? Odds are the north side and the rest don’t pony up because they don’t worry about losing a license or an increase in insurance rates that they never had in the first place.
Can you blame the south and west sides. The Chicago Public School system and Chicago Teachers Union has a real hard time teaching kids to read. They are too busy worshipping cop killers.