-- 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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And it shows….
It sure does.
40 years ago Illinois was AA rated.
Today barely above junk rated.
Blame corrupt Illinois Dems and their masters da public sector unions and especially da teacher unions!!
Look how well this has empowered students … few of whom can read or do math at grade level.
All-in-all a victory for unions and a travesty for students, parents and taxpayers.
Stupid chickens.
“The IELRA is the Illinois law that requires school districts to recognize and bargain with education labor unions. This landmark event not only revolutionized the landscape of public education but also empowered teachers and education support staff, like paraprofessionals, bus drivers, nurses and secretaries, to play an active role in shaping the future of education.”
Oh yes. Oh yes it did revolutionize the landscape of public education. But somehow, when the future of education didn’t turn out to be quite as promised, these empowered people have nothing to do with it. It’s all the voters’ fault you see.