-- 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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Emmanuel Chris Welch was the head of the Proviso School Board which was accused of awarding no bid contracts and to which the Illinois State Board of Education has assigned a Financial Oversight Panel, which puts them in the bottom 1% of school districts.
http://www.isbe.net/finance
The vast majority of locally elected school boards see charter schools as a threat to their empire, diverting money from the school district they were elected to oversee, and do everything in their power to fight charter schools.