-- 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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“Chicago’s majority-black neighborhoods have been hit the hardest with sticker ticket debt, in part because they are ticketed at a higher rate, per household, than other parts of the city, according to the ProPublica Illinois-WBEZ Chicago analysis of sticker tickets from 2011 to 2015. Tickets issued by police drive the disparity.” Are they trying to imply that the police are racist, or, are they trying to say that residents in black majority neighborhoods voluntarily choose to comply with the city sticker laws less than residents of non-black majority neighborhoods. Because I feel like the author really really really wanted to… Read more »