-- 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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I ask myself, what changes do they want? How will any of these changes reduce crime? How will any of these changes make Chicago a better place for law abiding citizens? Chicago’s police department is already understaffed, overworked and demoralized. I’ve seen it with my own eyes and the paperwork that occasionally flows across my desk. They can barely handle the case load and respond to crime. Most murders are unsolved and most shootings go unprosecuted. Petty street crime? Forget about it. Complicated or complex investigation? Are you serious? There’s one, and likely multiple, bonafide serial killers (https://www.aetv.com/real-crime/is-there-a-serial-killer-in-chicago-right-now-strangling-women-and-burning-their-bodies) roaming the… Read more »