-- 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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a union. With $700K to fund election activities. Does anyone else see the issue? This is just a vicious cycle. Bet all of the supported candidates are former union members…
Actually, if memory serves, three are SJW’s ( professional agitators with little/ no business experience) , one was a former teacher ( no bias there ) and two were connected to city government in some capacity previously ( what one might term as someone that has an “in”)
Just fire some teachers and administration, that’ll cover it.
Not going to happen. Even if it did you would only be able to fire the lowest paid teachers. You think the district decides which teachers it would fire? LOL. The highest paid shall remain on the payroll.
Raise taxes, use TIF funds or go deeper in debt. Did I mention raising taxes?
My home goes up a dollar for every dollar the City of Chicago taxes residents. Parents all flee the CTU and pay half a million dollars for a 1,000 sq ft split level in my neighborhood.
You know the end game is, right? You need only look at Baltimore or Cleveland to understand what Chicago’s future looks like, and it’s bleak.