-- 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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Worthless comparison as mentioned in article. Scholarship proponents correctly point out comparison should be based on socio-economic factors.
I’m always suspicious of organizations, such as WestEd, run by educationists. Looking at their web site, they seem to do some legitimate work. otoh,their next few events seem mainly to look at equity and climate…
If we’re lucky, Wirepoints will spend a little time to verify Wested’s results. I wonder whether they’d hold up if split among Chicago/Suburban/Downstate schools.