-- 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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Note to USN : BA HQ left IL
Those carnival barkers are everywhere. But don’t worry, JB is working on shutting them up permanently.
Wait just a dang minute. That rascal Pritzker told me Illinois was the bestest state in the union for pretty much everything. You mean to tell me that there varmint is lying again?
Illinois ranks #5 in pre-K-12 education and its taxpayers spend around $17K per pupil. Indiana ranks #7 and its taxpayers spend around $11K per pupil. The difference is $6,000/pupil.
Assuming 1.9 million students enrolled in Pre-K-12 in Illinois, that means Illinois residents shell out an additional $11.4 billion than Indiana residents for education and all we have to show for it is two lousy places.