-- 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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Wages are low because child care is so expensive for households. My child care for my kids costs more than my mortgage. And a lot of that is due to regulation. Because there has to be a teacher to kid ratio, millions of dollars in insurance, food service, sq footage requirements, and so. DFCS heavily regulates child care facilities, and well, that drives up the costs. No one is getting ‘rich’ in child care – not the owners, not the teachers, nobody. I can’t afford to pay any more money for child care and I certainly can’t afford to send… Read more »