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.
Glad to see he dropped the fake latinks accent from his earlier interviews.
After listening to the news about this funding all i can say is they are gaming the system and they are very GREEDY. It also said how bad of an education these kids are getting…….FOX had a segment on this along with some Chicago poeple that are plain FED UP!!
Because a fully funded pension fund is intrinsically necessary to teaching children, right?
“The schools are underfunded and need more money.” In my old age it seems to me I have heard that somewhere, sometime before.
But as WP has documented, CPS has plenty of funding to keep schools open with hardly any students in them and teachers on the payroll. Complete lack of management – the CPS should be run from outside Chicago.
Absolutely, and they have plenty of money to pay for the operations of school buildings designed to have 1000 students and only have 30. Complete lack of management. But we tax payers are supposed to pay for such stupidity.
They should be run OUT of chicago!!
Cut your costs to match the incoming funding.