-- 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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Once again with regard to ctu’s claim of understaffing, I’m astounded nobody in press offers any breakdown of #’s of cps/ctu employees per all the catagories listed in this article? What jobs do all those 25,000 ctu members perform? Ctu claims theres a nursing shortage, for example, but zero reporting on how many nurses cps currently employees? Us taxpayer chumps are left completely in the dark by city, cps, ctu and most disappointingly of all the press and left with all the hype and outlandish $bill$..the word efficiency is irrelevant