-- 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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Does anyone in this state actually care anymore if teachers strike?
Working parents care if their child is not in school due to a teacher strike, and the parent has to take time off work or find an alternative caregiver.
If the family is strapped for cash or does not have a readily available caregiver, that can be a big problem.
Especially if the child is in preschool or an early elementary grade, or if the child has a disability or for some other reason cannot be left unattended.