-- 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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If only the CPS would have that same mindset to close schools
The Catholic grade school I went to closed a few years ago in lake county. As the student body became mostly recent residents of the town and country. The church could no longer afford all the scholarships ( free tuition ) they were handing out.
I am grateful to this day to the sisters who taught me to read, to do math, and to consider the consequences of my actions.
Quoting a local catholic pastor, the current
immigrant community does not support the
parish or school financially as past groups
and more schools will close.
No, they certainly don’t.