-- 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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So could closing underutilized schools and not spending a dime on illegal aliens.
NUTS!
Pushing the state for more revenue? LOL!!!! CPS already gets a disproportionate share of funding from Springfield. How about you downsize, consolidate, close low enrollment schools, etc.
Borrowing to fund the unaccountable schools system / ctu is a recipe for more disaster, not a tool.
Borrowing; Ha! Extend-and-pretend is what he really means.
borrowing, aka kicking the can (Chicago’s favorite activity)