-- 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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Great post! Requiring radon testing and mitigation in schools is important for student and staff safety, but placing the burden on schools without providing additional funding could strain already tight budgets. A balanced approach with state or federal support would help ensure both safety and financial feasibility.
If the schools will pay for it they in turn will use it as an expense pushing the bills they pay to the local taxpayers. The state will still pay the usual 30% or so and taxpayers 67% or so so the state will not pay 100%.
Another worthless piece of crap bill.