-- 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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Given a devastating report such as this one, I would expect Brown to resign, under pressure from Lightfoot, because Brown is the titular head of CPD, and supposedly its leader ultimately responsible for its actions and nonactions. But he’s just a puppet, and absentee pay-check collector, and Lightfoot actually runs CPD through her proxies. So Lightfoot “1000% backs Brown”, despite harsh report findings, because she’s “1000% backs” HERSELF. Both of these incompetent hacks should resign, now, with dignity, rather than continue their charade of “being in charge” of Chicago’s current chaos. Sky-rocketing rate of car-jackings and street-muggings in north-side neighborhoods… Read more »
Sorry for grammar errors!
Chicago a flickering light about to burn out. I just read a lot of suburbs had a great year with all the peeps leaving Chicago to move to suburbs!
It’s a double edged sword, because on the one-hand, my suburb is really hot right now with record sales at record prices. We’re back to the 2006 prices, with 1960’s split levels costing half a million dollars. On the other hand, those leaving the city are bringing their leftist policies, only slight less Bolshevik than CPS, to my suburb. They wrongly assume everyone out here agrees with them. They are shocked to discover there are actual real Republicans living here because many of them, quite frankly, have never lived among Republicans and don’t have any as friends. So they run… Read more »
Rusty,
You are spot on!
From The Voting Has Consequences Dept. :
Welcome to the New Normal, brought to you by the DEMOCRAT Party of Illinois.
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