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Comment: Prof. Joshua Rauh of Stanford, a leading scholar on pensions, retweeted this saying it’s a “great analysis though $82K is probably optimistic.”
Mike Rendina, “who helped Rahm Emanuel put city employee pension funds on the road to solvency, avert a teachers strike and secure a $450 million windfall for Chicago Public Schools is calling it quits.”
Comment: Um, no, he didn’t put the pensions on a road to solvency.
Comment: The moonbat left’s latest idea for Chicago.
Comment: Nibbling around the edges. And this is just plain stupid: “Illinois should be contributing more to its pension funds, not less.”
In the end, it turns out Chicago didn’t get the $250 million. They got $430 million. Moreover, the promise is that they will get continuing pension payments every year. No matter how you look at this agreement, the precedent has been set. More state funds will be flowing their way. A state that can’t find a rational way to pay for its pension obligations has just taken on a whole big, new burden.
Hardik is an exceptional talent and was a great asset for the state. Best of luck to him.
By: Mark Glennon* Our readership continues to grow rapidly. Thank you. We’ve added a new section at the top right for our quicktakes on major daily topics as they arise. More detailed original articles will continue to appear under Wirepoints Originals. The best and most significant articles from other sources are in the left two columns. Second, we’ve ironed out the last of the bugs on the new comment system and you can spew pretty much wherever you want. So, have at it, my fellow policy wonks, bitchers and moaners. We have some very informed readers who add great value
In one key measure important to venture capitalists, Chicago already surpasses Silicon Valley: return on investment (ROI). Nearly half of Chicago tech investments (45 percent) have provided a 10-times return on investment compared to 25 percent ROI in Silicon Valley.
Comment: Echoes of the phony promise of 100,000 more cops claim Rahm and Bill Clinton made.
Remember the surge of relief in early July when so many celebrated passage of a “balanced budget”? Well, never mind.
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