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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 would like to see kids at least reading at grade level.” He’s in luck. Looks like Illinois may lower the bar to define proficiency in reading and math.
bad for Illinois and bad for the country
Layoff the 9,000 teachers hired during covid while attendance dropped. That’s where the money is.
Cutting crossing guards and hot lunch programs won’t solve the district’s financial problems, and neither will switching around who pays the bills. This problem is so bad that only huge systemic changes can maybe, possibly, start to turn the ship around. It will mean the union’s fairy tale list of wants can not be met, and even CPS’s own list of wants can not be met. Eliminate the dozens of requirements the state mandates (but doesn’t fund) like teaching about the history of the disabled rights movement and the dangers of allergies. Everybody will have to feel like they’re losing,… Read more »
Lol, I read that line in the article about them cutting lunch program and crossing guards and broke out laughing. These people are serious…That doesn’t even scratch the surface of what needs to happen. These people are not even looking at the real problem and places that need to be cut to have an impact. They are waiting for the State or the Fed to come in and write a check… Close it. Fire them all. Start again.
Go voucher , sell off unused schools and property , dump teachers and cut unneeded back office staff. Hell I’m just a plain old tax gouged citizen and I wrapped it up 1 sentence
You sure did. The problem is you and all those of like opinion are not the deciders whose opinions count, sorry to say.
CPS needs to close underutilized schools and lay off the associated staff. But CTU won’t allow this.