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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 claim for funding doesn’t pass a basic sniff test when CPS has a number of schools being kept open with hardly any students in them – WP has documented this gross inefficiency of CPS and CPS refuses to consolidate and close these woefully low enrollment schools, effectively making them an expensive jobs program. With public funding of any sort, there comes responsibility for stewardship. CPS has shown it’s irresponsible and not interested in change management of any sort.
No, it doesn’t.
Chicago student test scores seem to go down and down as the amount of money the teachers get goes up and up!
What an absolute joke. Another Billion dollars…when will this finally be recognized as a grift, corruption and a complete waste of money. There is no value and no results. Close it all and tell them to reduce their costs.
Oh and that 1.6 billion will immediately raise the literacy scores ? The system is broken. Fix it with hard work and trimming fat then come back and talk to us
What hogwash. The “records” referred to here are the ridiculous “adequacy” standards in the school funding law that were deliberately written to show that schools are always “underfunded.” CPS already spent an absurd 30K per student.
CPS receives too much money as it is. Close empty schools and lay off uneeded staff? Meh! Track down the thousands of stolen laptops and the millions they cost? Shrug. Get rid of the parasitic, Marxist CTU that exists only to enrich itself? Nah!