-- 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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Apparently Governor Pritzker thinks paying off personal student loan debt to those agreeing to buy a home is a higher priority than better funding programs for the disabled.
The State works with a lot of non-profits to provide services for the disabled, as opposed to for instance large state run group homes.
In general these are challenging careers to help others enjoy a better quality of life.
Recruiting and management is important as it takes a certain mindset to enjoy the work, not get burnt out, and provide compassionate care while being vigilant for signs of neglect or abuse.