-- 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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When I observe the way these teachers act I am not certain I would want them teaching my children. However one thing I have learned by watching them is now I understand the dismal academic results of the Chicago District students.
Why would we expect anything more?
There’s a reason the only student population growing in CPS is illegal immigrants and even that doesn’t stem the losses from every other demographic. Everyone else is leaving.
The teachers think they are fighting against social injustice, like in the movie “Fistful of Dynamite” (1971). In that movie James Coburn is a terrorist who is getting tired of blowing up buildings and Rod Steiger is a poor man who joins the social justice movement after his family is killed. The opening scene where Rod is picked up by a luxury stagecoach shows the gap between the rich and the poor. I guess that CTU thinks they are fighting social injustice but the biggest burden on poor people is the state’s $250 billion unfunded pension liability as well as… Read more »