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.
On the one hand, this is bad, bad law, making it difficult to run a business. On the other hand, these are all reasonable requests for workers. It wouldn’t be a big deal if these were college kids or young single people with these jobs. But the problem is that these low wage jobs with unpredictable hours and pay are all the only jobs that many full time workers with CPS educations can get after years of globalization and offshoring. The same could be said for poor rural whites too. I’ve always said that Black people do have a crappier… Read more »