-- Connecting the dots between our economy, government and business --
Chalmers, in the historic North Lawndale neighborhood, served about 210 students last year in a building with capacity for 600. Just around the corner, about 210 students populated Johnson Elementary on a campus meant for 480. The local high school, Collins Academy, was down to 200 students. Three of every 10 Chicago schools sit at least half-empty, and closing or merging them remains a political third rail.
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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