-- 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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“Because of who they know (and who they b***.)”
Over at second city cop blog, if you believe 1% of what’s written there the upper echelons of the CPD looks like a cross between a Arabian Satrapy (complete with harem) and an African Warlord regime.
The real situation in which the recently retired chief of police is, frankly, too off-color for workplace discussion. The fiscal corruption of the city is mirrored by its criminal corruption and sexual deviancy.