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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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The story completely fails to mention other important factors regarding the “child care crisis”. First, the inconsistent and arbitrary regulations that DCFS has imposed on day care homes and facilities, to the point that child care regulation is being taken away from them and given to a newly created agency (we’ll see if that agency does any better). Also, the current staffing shortage dates from before the pandemic — child care providers were noticing it back in 2017 and 2018 — and boils down to the fact that anyone who completes all the education and training required to be a… Read more »
There’s no child care crisis. There’s only a lack of low-cost child care subsidized by the state. Likely because the state’s Child Care Assistance Program payment rate is abysmal. The state pays only $42.00 a day for age 3 and up in the Chicago area and only $39 in other cities and $36.00 downstate. The demand for cheap daycare exceeds the supply. https://www.dhs.state.il.us/page.aspx?item=121213 There’s plenty of providers in my area but they charge more than $1,800 or more a month, depending if you want your kid to wear a uniform or not. Three large facilities have opened in the 6… Read more »
It’s impossible to be a stay-at-home momma when you a baby momma w/ a deadbeat bad.