-- 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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Mayor Brandon Johnson can’t spell the word “ramifications” let alone understand what it means.
Hopefully, Six Percent will eat a double helping of crow when it’s pointed out that Spot Shotter has the technology, the data and so forth already in place instead of getting a whole new outfit in CHI. Then again, the opportunity to grift is there by setting up a whole new system. May the fattest envelope of cash win!
He should correct his mistake. It positively impacts minority areas, which he won’t admit because after all, racist blah blah blah. Probably won’t choose Shotspotter so he can BS that he brought in something cheaper and better. And in our neighbor to the west, Oak Park, their board came close to eliminating license plate cameras because they are racist blah blah blah. Maybe with two murders this year they “wake” up.