-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
This is the direct result of the failure of Chicago schools to educate an entire generation. Those former students cannot get a college degree because the don’t even have the basic knowledge for a high school diploma- they “graduated” from high school only because their name was on a list.
Yep and their teachers didn’t want to have deal with them for another year.
Well, the idea is one that I think makes some sense. Having a college degree does not necessarily mean anything for many jobs. In a reasonable-common-sense world that would be true, however, In practice in Chicago, the concern is, that it will be an open door to expand the hiring of friends and relatives as well as the totally unqualified simply because of their race, gender, or other crap this state and city government thinks is important. If implemented without any controls or ability to easily cull people who are not correct for the job, this will simply be a… Read more »