-- 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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I trust the crime stat numbers coming out of Chicago about as much as I trust Mayor Johnson’s budget numbers. I think I just saw a Unicorn!
One might also note the rise in crimes committed by CHI/ Cook County natives in the suburbs. Crime isn’t down drastically, it’s just changed its address.
How high has it risen in all of the suburbs?
Ask any suburban law enforcement officer not afraid to tell the truth and find out. The local government, eager to have people buy housing tracts for 40K per empty quarter acre certainly won’t . Ditto the whitewashing media that won’t illustrate the failure of moving life long public housing residents into previously nice, clean and quiet areas.