-- 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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The high crime summer is almost over so the SAFE-T Act pre-trial release’s effects won’t become fully obvious until next year. We’ll get a taste of it this fall, and then it will be fairly quiet this winter. Felons aren’t exactly following this law like we are. But after 6 months when criminals realize that their buddies really are getting the Get out of Jail Free Cards, things will go crazy in the spring, because criminals will start multiple committing crimes knowing that they will get out of jail for free.
Why even bother,the justice system in Illinois is going to be turned upside down when the Safety Act kicks in. It going to be a giant Monopoly game and everyone gets an unlimited get out of jail free card.