-- 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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CPS starting salaries are high compared to most school districts in the area, let alone country. How is it that CPS has been unable to pluck teaching candidates from across the country, including downstate, with low teacher salaries.
The obvious answer is that salary isn’t the sole consideration in where a person/family wants to work and live. Then, in Chicago’s worst neighborhoods part of your budget has to go toward the security of your home and everyone in it. You have to be on top of the market for buying security systems, guns and ammo as well as payoffs and visits to your marriage counselor and psychologist. All those thing take money and tend to shorten your healthy life span. Its a wonder any person with a positive I. Q. ever wants to work there and even more… Read more »