-- 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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CPS is rapidly becoming a minority baby sitting service while anyone with means leaves Chicago or goes private. Frankly we should let it collapse and start over. The kids, tax payers and teachers who want to be free of the union will all benefit. The CTU? F’m let them rot in hell.
Are these schools being punished for actual problems or for making CPS look bad and incompetent. They’re making us look bad, therefore they must be destroyed. I suspect Lori’s fingerprints are all over this! It’s her style; a knife in the back.