-- 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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Has “I can’t afford a bike” ever been an issue in the city? Are people missing work because their bike is in the shop? It’s a fine program and all, but is it really a problem?
I don’t see this as a theft deterrent either as anyone who steals a bike isn’t stealing it for personal use, they’re reselling it.
Just leave the bikes in various locations across the inner city. They’ll find their way into the hands of the most needy.
Now there will be Bike Ride by shootings.
Officer. What were the shooters driving?
Witness. They were on Pee Wee Herman bikes with streamers,a ringer,had red bow ties on and had a funny laugh.
https://www.huffpost.com/entry/pee-wee-hermans-bike_n_4916551
Divvy Bikes are already in use for Chicago Crime Thugs:
https://cwbchicago.com/2020/07/cpd-video-shows-divvy-bike-crew-carjacking-82-year-old-man-in-streeterville.html
https://cwbchicago.com/2021/06/video-shows-divvy-riding-robbery-crew-targeting-bicyclist-in-the-loop.html
Much like scooters, they’ll find their way into the Chicago River.
Why is dead broke Chicago giving way millions of dollars worth of bikes — and not just to poor people who can’t afford one — but to families that make up to $140,000 a year!
Chicago’s motto, “It’s FREE!”