-- 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’s unreliable bus service is inexcusable for a city that has multiple modes of public transportation.
Thanks, Nixit!
You’re right – in a city with regular bus service why would the kids need to be picked up? When I attended school in Chicago I walked four blocks to grammar school, and in high school walked four blocks to catch the first of two buses – then walked another few blocks to get to the building.
We got a reduced rate because we were students.
If the current students had to take public transportation it would increase ridership and teach the kids how to get around the city.
Win/win.