-- 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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Apparently on July 11 ABC reported that CPS is laying off 1400 teachers and Aids, (432 teachers and 677 special education classroom assistants) but then states that (“Historically, the district said more than 80% of impacted employees have secured new positions within CPS prior to the start of the school year.”)
So, there continues to be nothing but graft and manipulation. It’s just a shell game.
Illinois should provide help to Chicago in the form of plans to reduce bloat. It would be a new area of study.
Everyone knows what should be done, but CTU is blocking it. Close down and sell underutilized schools and lay off the staff. Johnson is a CTU. Puppet.
“As much as I appreciate Illinois helping out the people from Texas, the South Side and West Side could use the same level of energy,” Mayor Brandon Johnson said. – this is exactly what Blacks were telling him when he was allocating $1 billion he didn’t have to migrants.