-- 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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Heck, I could be a federal judge, I said weeks ago the case would be dismissed because black enrollment was down, which means fewer black teachers. It’s pathetic how I read in the news that the CTU said that that CPS didn’t want to settle; and my response was, why should they settle, this case is terrible! And look, they put out that press release about settlement because they too, after 8 years, knew that the case was awful, and they were begging for settlement! I can’t believe this case went on for 8 years. Figure $200 an hour, 20… Read more »