-- 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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How about teachers and pensions get Illinois Medicare health care instead of a platinum private plan?
If all those CTU teachers kids were forced into CPS schools by a requirement that is rigorously enforced (stop laughing) that they must send them to CPS schools, what would happen? Would teachers risk getting caught, would teachers move to neighborhoods with better schools, would teachers tolerate conditions in their local schools? Would teachers quit for suburban jobs and/or move to suburbs? Would CTU demand more funding to absorb those kids into CPS? Would the CTU union rep in the mayors office fight such a rule?
Shocked, just shocked, tell me it isn’t true!
And who’s at the top of the list? Yep, the top dog of the CTU Stacy Gates! Chicagoans, you voted for this outcome and you got it.
Typical of the “ something for me, but not for thee “ even though thee paid for it.