-- 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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No businessman in world history has ever been this greedy. Jackson is truly a soulless, immoral monster without a conscience
Perfect example on why we need school consolidation in Illinois. In Winnebago County we have 11 districts- McHenry County 18 and so on. Illinois has 868 districts vs 65 for Florida. Too many duplicative administrative expenditures mostly funded by local taxpayers. Every time a school district negotiates another contract the state pays approx 30% blindly without having any representation at the table which is paid for by state income taxes. Same for Feds(11%) There needs to be a maximum cap on per pupil expenditures.Live within your means if not students should be sent to local private schools at half the… Read more »
My comment from a year ago: Ford Heights SD 169 has only 450 students spread over 2 schools, yet each school has a principal and assistant principal. Considering the district is running 60% over budget, they might want to layoff the assistant principals and re-negotiate the superintendent’s $260,000 salary (that’s including a $29,000 annuity).
http://www.fordheights169.org/wp-content/uploads/2017/01/Salary-Benefits-2015-2016.pdf
http://www.fordheights169.org/wp-content/uploads/2017/01/Fiscal-Year-2016-2017-Budget.pdf
HB 3052 attempts to consolidate Ford Heights and Chicago Heights school districts. Their fact sheet is a comical glance into public sector reasoning:
http://www.fordheights169.org/wp-content/uploads/2017/03/House-Bill-3052-Website-revised.pdf