55 and Out Not Working

This was supposed to be both the saving grace and doom of the Department. "Saving" $23 million in an era of $500 million dollar deficits. "Doom" in potentially shorting the Department an additional couple of hundred officers.

But it doesn't seem to be working either way:

• Chicago Police officers are not exactly beating down the door to take advantage of Mayor Daley's offer to extend premium health benefits to those who retire at age 55.

  In fact, unless 100 more eligible officers line up before the Oct. 1 deadline -- joining the 60-plus who've signed on already -- the deal is off. And the $23 million Chicago taxpayers desperately need to save will be lost.

Fran seems to be implying that if 100 more cops don't retire, it's all the fault of the police (and not Shortshanks' years of chronic mismanagement) that the city will continue it's careening slide toward insolvency.

$23 million is 4.4% of Daley's $520 million shortfall in 2010. We foresee a lot more layoffs coming with those types of numbers.