-- 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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“I’ll take ‘documents not worth the paper it’s printed on for $100, Alex.”
At least someone ‘forklift certified’ has attained a skill. What skills come with this certificate?
Hmm…..could I get a student loan for this program? What would they reposses if I default?
What a waste of money!
This will really open up new job opportunities…NOT!
Let’s “ reconfigure “ higher education by cutting off all federal/ state taxpayer funding if they can’t stick to teaching something useful. Churning African Studies majors, Lesbian Dance Theory experts and athletes that are screwed unless they make it to the big show won’t cut it anymore.
“Useful,” like beauty, is in the eye of the beholder. America has been said to the the land of dreamers and those who hope for opportunity, presumably both spiritually and in more practical terms. All of that is an individual matter and not to be dictated by group-think preferences.
What a lovely sentiment. It’s an individual matter, until it comes to the small problem of who should pay for that individual’s dream. And who should support our dreamer when his dreams prove incapable of securing him an actual job in the real world.
Wow James, we actually agree on something. There may be hope for the Republic. I will add though that there should be a limit on student loans based on a cost of degree to expected income ratio formula for any government loans to these likely useless degrees. Thereby you and I as taxpayers aren’t screwed for someone else’s likely poor choices. This purple haired nose ringed self loathing individual still owes us the cost of his loan. Forever.
All I’m suggesting is that people should be encouraged to seek their dreams. I’m not for full taxpayer support of most things to include education. It’s nearly always true that there has to be “skin in the game” by the individual to give at least some hope for serious involvement rather than wasting time and resources at other people’s expense. But, we have to keen mind that what’s considered a hot career market in one decade sometimes isn’t in another with the opposite being possible as well.
Sorry, but many of the degrees earned won’t be worth the paper they are printed on. People still chasing a sheepskin into their late 30’s- early 40’s are never going to recoup the costs of education nor the wages lost while persuing it unless they start pulling in 250K +/- right out of the box. Some “dreams” will never realize on tenth of that amount.
Sure, fair enough. Public funding spent for anything needs to have rules and oversight. Otherwise, it’s money thrown to the winds. Part of that has to be a reasonable expectation of a successful result. Again, I’m rarely in favor of full governmental funding for most things and think the private party or business at hand needs to have a reasonable burden financially as well to warrant it.
Thanks for steering this back into a reality-based discussion. There has never been, nor will there ever be, an economy in which queer studies is a marketable degree. Pursuing dreams? Have at it, but only on daddy’s dime. No taxpayer funds.
I think it’s safe to say that’s a decision to be made above our pay grades. The times ever are a-changin’.
Yes, all of these decisions are made above our pay grade. But we can still have opinions about them.
I’ve heard it said opinons are like a-h.les. Everybody has one.