-- 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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LOL, my district hired a superintendent somewhat recently, and the district bragged there were hundreds of resumes and scores of interviews, before decided that a local nepotistic hire with a degrees from National Lewis was most certainly the best candidate for the job. OF COURSE a mid-six figure job with amazing pension perks is going to attract hundreds of marginally qualified people with teacher factory degrees to apply. But contrast that with the so called ‘shortage’ of teachers, where there are dozens of various openings but hardly any new teacher applications. These jobs pay nearly six figures and also require… Read more »
Those that couldn’t hack engineering became teachers or enrolled in psych programs. I guess I could have really made out if had changed my major way back.
Here’s another sweetheart deal for an exiting super.
https://www.yahoo.com/news/democrats-swept-moms-liberty-off-172605000.html
This grift has been going on for far too long and the taxpayers of Illinois are paying for this. Disgrace