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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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Net, Lori will be glad handing in police districts!
Leadership issue. Carpetbagger Superintendent Brown and a host of Affirmative Action command staff most definitely is the cause. When there are high ranking police department members who have never passed an exam in charge and are in charge because of clout or they fit the racial profile, what could go wrong? Hence, the article.
I recall reading about this problem several years ago. Evidently it’s worsened, and/or somebody got WBEZ interested. If the registries are of any value — which I doubt — clerical staff earning half of what cops make, but working regular hours inside police stations, could handle the work.