-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Dorval Carter tries to spin the violence crisis by saying, “Crime on CTA is relatively low.” It is only low if you are comparing it the the Russian Army’s losses of 35,00 dead in the Ukaraine conflict.
What the CTA needs is Bernie Goetz.
REALITY CHECK — CTA VIOLENT CRIME IS AT A 7 YEAR HIGH
When was the last time Mr. Carter used the CTA?
Two hundred sounds impressive – but realize at no time are there 200 guards on duty.
Are these guards full-time or part-time?
Consider there are 24 hours in a day and seven days in the week. Due to vacation, days off, and sick call-ins, to cover a 24-hour shift requires 5 full-time officers – that’s if they are working solo – 10 officers if they are working with a partner.
The 200 figure is far less impressive when broken down this way.
Adding 200 unarmed security guard is just adding 200 potential victims. The violent offenders aren’t messing around anymore. They know Lil Kim and Judge Tim have their backs. It’s the wild wild west out there boys and girls. Stay out of Cook County and Chicago. They don’t want you around anymore, and if you venture into their territory, they’ll take your wallet, car and life without so much as a second thought.
How much failure can one organization get away with — before it is scrapped for good