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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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Reduce it all. Tell them to take it or leave it. Then close it – close it all. Fire them all. Start over or don’t. School District have become nothing more than transportation, food service and daycare – along with dozens of unrelated to learning programs with counselors, psychologists, health care providers, etc. It is out of control. There will never-ever be enough money and benefits for these people – we could give them all of the money in the world – all of it – and it still wouldn’t be enough.
What salary are they asking for?
Give them 4.5M and 20 minutes, take it or walk. With the nicer weather and the “ graduate them all “ mentality prevalent in the CHI school system, attendance will drop anyway. They, as Trump said recently, “ have no cards “.