-- 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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The union’s goal, under Stacy Davis Gates, is to create such a huge, unfathomable financial black hole that the whole “system “ gets blown up. That’s why she wanted her union to have 50 Billion and 3 cents, consuming ALL of the state’s income. She is gunning to create chaos so that her socialist dreams come true.
Lets ask the rest of the state to overpay Stacey and the Gang. Not so sure that would be acceptable
Highest paid teacher in the US, time for a pay cut to cover the deficit or start firing teachers until it’s balanced.
CTU should not get any more money until they start teaching and students atre performing at grade level.
Not even a dollar henceforth? No money at all even for current employees at their current wages? Your idea reads as if that’s your solution. Sure, that works fine financially by essentially firing all current employees but only until you have multi-thousands of loose teenagers on the streets with nothing useful to occupy their time. You might want to think about those consequences and recalibrate. If you mean something less draconian please say so.