-- 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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I live not too far outside of Chicago in a leafy suburb with great schools. Most younger families living here used to live in Chicago, myself included. A CTU strike is great for my property values. 1960’s split levels are selling for half a million dollars in my town! Demand is very high for any home with a yard. Price will continue to increase exponentially as the last remaining upper middle class children in Chicago finally flee for greener pastures.
Konkol’s the best!!
Maybe the students should go on strike against the teachers. What if they continue on-line classes for a week, but nobody logs in for the lessons? Would that get anyone’s attention? Would it even be reported?
Yes, I know this is just fantasy but it would be interesting.