-- 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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Typical backward Illinois government take money away from successful entities and give it to failing ones.
It is a backdoor way to fund cps students who wouldn’t get into qualified colleges because their grades suck. If they haven’t learned in 12 years 4 more won’t help
You betcha it is and it will no doubt distribute these individuals throughout the state…Macomb etc Illinois welcome you new neighbors
There is not motivation or strong business governance visible today in the Higher education system in Illinois. Not surprised really, these traits are not used anywhere else in State, local or any government funded agency in Illinois either. Higher ed sells a product that is over priced and with a few exceptions, is upside down in its costs vs. ROI. Government has made it possible through endless loan programs for students to sign their lives away to finance an ever increasing cost for a college degree. The entire process of financing a college degree removes the interests or requirement for… Read more »
This move will move the Illinois Colleges to the Public School Norms meaning we will soon have some Illinois Colleges’ with a 98% “not meeting college standards” ratings. One has to admit though that there is a considerable shortage of Colleges for our State underperforming students and it is equitably imperative that they all get a college degree for Pritzker to brag about for his Presidential run. It’s a big “win-win” situation for a chosen few and Pritzker is at the front of the line.
WIU has been tearing down dormitories as enrollment shrinks. Notice the political animal solution to a failing operation like this is to confiscate even more money from taxpayers to prop it up. It may be time to reassess this funding altogether. A four-year degree (even ones that come with a job after graduation) is already at nearly unjustifiable tuition levels. It’s time these institutions reassess the expenditures side of their financial statements.