-- 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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With passage of Amendment 1 will it be possible to achieve CPD department reforms, replacing “office duty” fully sworn officers with civilian staff, etc, etc? I’m sure FOP will fight any personnel changes. Same issue with endless calls to consolidate Illinois 7,000 units of government.
I think there’s a much larger problem at the CTU that needs to be solved first.