-- 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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As I’ve been saying, U of I is extremely competitive to get into because it’s IIRC 30% international students. The remaining 70% of slots are highly sought after by every top 20% of their class high school graduate in the state. For many parents I’ve talked too lately, the only Illinois school their kids apply to is U of I. And if they make it in, great. If the don’t, oh well, there’s dozens of other out-of-state schools with similarly out-of-pocket tuition promises looking to poach the U of I rejects. Apparently a lot just apply to U of I… Read more »