By: Mark Glennon*In picking which decepton to write about in the City of Chicago’s PR offensive last week about the its finances, I’m suffering from the “paradox of choice.” That’s what occurs when you’re overloaded with too many choices, making it difficult to decide.
I’ll go with this one for now — the numbers for Chicago’s police and firefighter pensions. Had it been honest, the city would have prefaced its pension numbers by saying, “Let’s assume we didn’t kick the can and that an old law is in effect.”
The pension numbers the city used are built on the assumption that it will make far faster, higher pension contributions than in fact it will make under a new law. Its numbers, in other words, ignore a huge can-kick the General Assembly recently passed. The numbers the city peddled therefore are worthless.
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