-- 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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UIC used to be called, not-disparagingly either, UIC as in the University of Indian and Chinese, because of the disproportionate population of Indian and International student populations seeking STEM degrees. Not too long ago UIC’s stated intention was to become the UCLA of the midwest. However, all of this seems to have changed, the largest demo at the school being Latinx. However, since the school went ‘woke’, “[only] 29% of enrolled first-time students at University of Illinois Chicago in 2022 submitted SAT scores with their applications.”
Yikes 37% of first year students come from CPS. UIC was once an ok alternative. Will not be for long.