-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Chicago, the City of In Loco Parentis. Too bad the Loco Parentis don’t teach children to read or inculcate a moral foundation.
CPS needs to lay off TEACHERS and lots of them, with declining enrollment and more than 1/2 empty schools some with more staff than students costing in excess of 100K per student who still can’t read or write at grade level (or in many cases AT ALL)
CPS needs to focus on improving education and student tests scores, not far left, progressive policies. Stop wasting money that they don’t have.