-- 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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Charlie will probably want to keep that Chicago residence for 6 months + 1 day to avoid paying California taxes on his large LAPD pension: https://transparentcalifornia.com/pensions/2018/los-angeles-fire-and-police-employees-pension/charles-l-beck/ And speaking of pensions, amazing how many former policemen are doing consulting work around here: “Sean Malinowski, who was chief of staff to Beck before they both retired from the LAPD, is now director of Policing Innovation and Reform at the University of Chicago Crime Lab. Arif Alikhan, who headed Constitutional Policing and Policy for the LAPD, and Maggie Goodrich, who was chief information officer for LAPD, are also consultants with the Chicago Crime… Read more »
I question someone’s judgment who leaves LA for Chicago. I get the leaving California part; I don’t get the ‘move to Chicago’ part.
Money!! Lots and Lots of sooner or later taxpayers money.