-- 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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Really, these folks are just building a model to justify the existing old university system and costs. This does nothing to address right sizing and restructuring these university’s operations and course offerings to match the demand. Why have only the very educators who would benefit from the model, develop the model, why not insert some actual business people in the mix to try and get some real-world reality injected in the plan? This is all about the equitable distribution of tuition funds…the financial organization of these state university entities are currently structured to serve the employees and teachers, their salaries… Read more »
A woke funding formula for higher ed. Just what we need ; )