-- 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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This should be an important concern for ALL property tax payers in Illinois. Some schools operate some facilities on a basis of promoting tuition-paying enrollment from other districts. Tuition does not cover nearly the full costs of providing educational service to these out-of-district pupils. But the district wants to keep increasing job counts, and enrollment is dropping so…. One major cost dumped on local property taxpayers is OPEB liability for staff which has been hired for the sole purpose of serving pupils from other districts. And this OPEB liability is a huge $$ number. For one example, Woodstock CUSD 200… Read more »
The civic federation peeking from behind a tree. Long term to CPS means yesterday. Drivel and Dreams!
Fire them all including the Board.
Name this for what this is: The beginning of the implementation of Communism in Illinois.
Add Racism.