-- 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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Who doesn’t increase staff by 20% when your customers decrease by 10%? That tells you all you need to know that it has nothing to do with the “kids”.
With nosediving CPS enrollment, how many of increased staff are justified by EBF? How many of increased staff are funded with ESSER COVID funds?….same questions for all the other CRAZY +600 Illinois school districts? Does any pol or press care?