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.
The graduation rate at City Colleges of Chicago was as low as 7% back in 2012. Now the graduation rate may be 16% but they have been known to fudge the numbers by lowering standards and issuing degrees to dead people. Chicago State University has also struggled with low graduation rates and low enrollment–at one point many people thought CSU would close its doors. There have been a lot of scandals over the years at CCC and CSU, which causes EROSION of TRUST. Administrators and full-time faculty get fat, unsustainable SURS pensions. But, really, how many students have been able… Read more »
The amount of money sent towards the CPS should be cut by at least a third. It might get the teachers unions attention. People who fail at their basic duties should not be rewarded with steady paychecks.