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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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No replacement over priced PhD CEO or board for CPS will result in anything positive for the operation of the District or for the tax payer. The school district is too far gone, too big and far too corrupt to be saved or “reformed”. The word reformed is often used in government to describe changes that are needed, but most of the time it means “we should study this”, “we should form a task force”, We should form a cOalition”…but mostly it means – “nothing will be done”. The best thing the State can do is – Close it. Fire… Read more »