-- 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 Board of Trade as Section 8 housing is about the most fitting description of Chicago’s downfall as anyone could imagine. Literally riches to rags in 100 years.
Nobody wants the cop job so money is being wasted. The next hires for the CPD will have criminal records, more gang affiliations, psychological issues, deadbeats and other issues that will create an enormous problem. Every police department that lowered standards has seen this effect. No man or woman with any sort of smarts would take the police job.