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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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oh my goodness, the horror!
Why not just accept the fact that teaching is no longer a lifetime type of job. Apparently most people can’t handle the job for more than 3 or 4 years if it’s in a broke school district like CPS. I once had a job like something out of “Dilbert” where I hoped I would get laid off. Finally I decided I would quit after 3 years. It was working at a small company that was running out of cash and my job was to send out checks to vendors and stall for time. Watch that you-tube vid “Teacher describes an… Read more »
Teaching may indeed not be a lifetime profession. Maybe teaching should be structured so that professionals can go back and forth and back again. The current pension system makes that difficult.
The problem is the unions and politicians keep thinking a 21st century workforce wants to work in a 20th century environment.
So ridiculous. This article must have been written by a CPS Grad: Not enough black teachers! Black teachers are leaving! Very bad! White teacher population increasing, very very bad! Oh wait, you mean blacks have been fleeing Chicago for 2 decades, which presumably includes black teachers fleeing too, while giving a greater share to whites?? “Chicago’s black population, the city’s largest demographic in 2000, has dropped by 24 percent through 2017, going from more than one million in 2000 to just under 800,000 in 2017. The number of whites in Chicago surpassed blacks in 2017, and Latinos will almost certainly… Read more »
Whiter and richer
4 out of 5 students in CPS are children of color. So after 12 years of CPS education, it appears not many are inspired to become teachers, let alone return to teach in CPS. This is what they call a teaching moment.
No, not 4 out of 5. It’s 9 out of 10.
“Less than 10 percent of enrolled CPS students are white, while 39 percent are black and 46 percent are Hispanic.” https://tcf.org/content/report/chicago-public-schools/