-- 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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In their “community engagement” sessions, hopefully someone will point out that when you are facing a $560M budget shortfall that the last thing you should do is to make a $175M payment for an entity legally obligated to pay it. Especially when the other entity has a larger budget, hence more wiggle room, and has more revenue sources.
Banjos puppet. Plain and simple
Another Johnson and CTU puppet. Students and taxpayers are screwed.
Everything on the table my a…
There’s WAY to many teachers and empty schools until CTU members (not crossing guards) are fired she’s just blowing smoke out her butt…