-- 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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Education is a never-ending cycle of consumption as they keep moving the goalposts further and further away. There will never be enough. Not here, at least.
Let’s ask Arizona or Tennessee what they could do with a per pupil budget of Illinois. Basically thrust them a decade or two into the future from an education funding perspective. I bet they’d have a transformative plan that would blow away anything we’re doing here.