-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
My downstate district has considerable better student results at half the cost per student compared to Chicagoland. The State, however, really throttles back on funding to our district making our property taxes even more outrageous compared to neighboring districts. It is as if the State wants our district to dissolve on funding day perhaps as only failing districts are deemed worthy enough to survive.
Don’t anybody confuse the public school system with education.
This now apply to “higher” education too.