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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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How large are these contracts? He states that on page 428 you can not close schools without dozens of conditions. There must be 1000’s of pages of every possible scenario. Seems like almost everything could violate something in their contract. Ask yourselves- Who owns the public school districts? Is it the Unions -CPS- or the TAXPAYERS. Think about that!
Page 56, Last page of CTU contract: SIDE LETTER ON SCHOOL CLOSINGS The BOARD shall not close any schools for under-enrollment, except during the last two years of this agreement, and where the school cannot satisfy graduation requirements for students. In this event, CPS shall initiate a community stakeholder process for addressing extreme under-enrollment in which the BOARD shall meet regularly with the school administration, parents, faculty and staff, the Local School Council, the school PPC, and local community organizations, and the BOARD shall promulgate a plan to address underenrollment, which may include alternatives to closure. If the plan calls… Read more »
meanwhile, like anyone of means, sharkey has his kids in CPS selective enrollment schools