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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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I don’t want my green anywhere near the CPS. Considering their product, they should give me a refund.
Another outlandish proposal to spend TAXPAYERS MONEY ON DEMOCRATS NARRATIVE OF GREEN ENERGY!! First close all the schools that have UNDER ENROLLMENT. That will save MILLIONS OF DOLLARS and get rid of unnecessary teachers and school personnel saving even more money for the TAXPAYERS!!
Maybe CPS should focus on actually educating students.
“The goal is to look at where we can optimize for efficiency,” Thotakura said. “To identify opportunities and definitely address our budget gap, not further add to it.” Optimize for efficiency. What the hell is she talking about? She is starting a new program to gain efficiency? Spending more money they don’t have? Lets start with low hanging fruit shall we?, how about closing and selling school properties that have 50 students in a building that is built for 1500 and that have more staff in them than students. How about you right size the staffing?. How about you start… Read more »
Just make sure the empty schools that one could shoot a cannon down the halls of and not worry about hitting anyone are on the list. Trust me, they will.
Didn’t CPS just say they are broke and need a BILLION dollars, unless they are growing cannabis on the roof to sell this is another loser.
On the radio this morning, they said this is funded by state and federal funds. I was struck by how much circular funding goes on–with all of it coming from the same taxpayers. In their minds, it’s free money. In ours, it’s a questionable expenditure for a broken school system.