-- 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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The dumbing down of Illinois continues. It’s a race to the bottom now. The states that are smart enough to avoid this garbage (Red states) will win long term, or maybe even short term. Progressive policies go bad very quickly, as evidenced by the Dementia Joe administration.
Bob Schaeffer, executive director of FairTest.org, says the change in policy by Illinois public colleges levels the playing field for students who can’t afford the testing fees and who can’t spend the money to take pricey test prep classes. ~~~~This makes no sense. The state gives the SAT for free. The ACT costs $85. But that’s too expensive. When IL colleges cost $20,000 a year with room and board. “Everyone knew that well-to-do kids had a leg up in the college admissions process,” Schaeffer told The Center Square. The Varsity Blues college admissions scandal demonstrated how the testing process could… Read more »