-- 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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Can the CPS really borrow money? From whom?
Surprised they haven’t called National Debt Relief. All other options have failed
Gentle Bond Purchasers: Kindly refrain from purchasing any CPS debt until they close underutilized schools and 40% of the students can read at grade level. Your interest income cannot possibly be enough to justify supporting an organization which fails at its primary purpose, education of children. If children are indeed our future, direct your resources elsewhere.