-- 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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It astonishes me that Vallas or anyone else continues to waste their time and energy on CPS, like giving chest compressions to someone who’s been dead for three months. CPS is never going to improve because 95% of families who value education have departed for private schools, the suburbs, or another state. They’re never coming back because CPS tilted so far towards leftover kids and families who simply don’t care about education…they’re the last people you want your children sharing a classroom for eight hours a day with. Network effects are STRUCTURAL. Vallas et al are delusional idiots who can’t… Read more »
Hmm……harm the reputation of CPS? That’s a new one!
I’m all for that, as long as Paul Vallas is the overseer.