-- 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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These comparisons are a bit misleading: – Indiana’s program has $18M, but they have half the enrollment of Illinois and they spend about $5,000 less per pupil. So I would expect Illinois’ $75M program to be equal in size. – Even though many scholarship winners were already attending private school, that doesn’t mean they’ll continue to do so without the scholarship. Many middle class parents go year-to-year on private school funding. – Illinois scholarships pay up to $12,973 and is the “most generous scholarship amount in the country.” Well, when you spend the 13th most per pupil in the country,… Read more »
Why not give the scholarship money directly to the parents then they can can send their kids to any school they wish. This would bypass state law that public money can not go to religious institutions because no law can be made to forbid freedom of religion. Money is still given to the public(parents) but not directly to private schools with religious affiliations. Maybe if you refrain from using the word “Voucher” and call it school tuition “Subsidy ” it would be more easily be accepted? After all it is about the kids!!!