-- 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 “Unity Plan” would retain the original 19 and create one additional committee: “Police and Fire.” Police and Fire would handle all issues relating to those two departments. The Committee on Public Safety would help deliver Chicago from violent crime in a more holistic way.” So Johnson’s plan is that the Police and Fire Committee is responsible for all Chicago Police Department issues, while at the same time it’s the Public Safety Committee that’s in charge of anything involved in reducing violent crime ‘holistically.’ And I wonder just how that’ll actually play out, boots on the ground, so to speak.… Read more »
Horrible to see Waukespack dumped. Ted and I have met with him, at his request. He’s smart, honest and heard us out politely, though he is a progressive that we don’t agree with on policy. And now there’s a socialist heading the powerful zoning committee. California here we come.