-- 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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Will this insanity ever end? Does the city and state have to hit absolute rock bottom before anything changes ? It is way past time to cut the CTU loose.
Surely you can see the future, Nostradamus. It never really ends, it just transforms into population loss, blight, crime, destruction, insolvency…
Let them strike and rent out the schools for charters and sent them the money from the Chicago per student counts, I doubt they need the $30,000 per student like CPS.