-- 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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“Ending the practice of suspending driver’s licenses for non-moving violations.” This is really the only reform that has any substance, and even then, it takes 10! Yes 10! parking tickets before your license will be suspended, a process that takes many months. The rest of the changes are all just show – like multiple tickets for the same offensive on the same day, which was uncommon. The better payment plans might help a few people but the city already has reasonable payment plans. And the city sticker fines are crazy anyways and are out of line with virtually every other… Read more »
The fines are a horrible way to tax, butcrain article say all the car fine, red light tickets, etc add up to $344 million a year!! Hows the bankrupt city going to make up all that $?