-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
“Lost?” Perhaps ‘stolen’ might be a more appropriate word.
If you drop your keys into Lake Michigan, they are lost. If someone takes your keys, they are stolen.
In the mind of the thief, using ‘lost’ versus ‘stolen’ justifies the act. After all, who is responsible when something goes missing?
Call ’em like they really are: STOLEN.
Correction-Taxpayers lost 8%. Where does CPS think they get their money from?
When no one is accountable for the bottom line, then there is no bottom line…
When you get something for free, there is no incentive to care for it…
Both of the above statements pretty much sum up how CPS is, and has been, financially operating for the better part of the past half-century.
A lot of the suburban schools have same problem. https://www.cbsnews.com/chicago/news/in-some-suburban-districts-hundreds-of-thousands-of-dollars-in-school-resources-went-missing-amid-remote-learning/
Yet if CPS went after those parents for reimbursement, the cries of equity would shatter all the school windows.
This is the most depressing, though not surprising, part of the article: “The police have classified most of the missing property reports for those 15 schools as “suspended” or “closed non-criminal,””
In Kim Foxx’s world it isn’t a crime – not much is a crime.
Let’s buy more; it’s for the children. I’d suspect the teachers, but they’d do anything to stay out of school. Computers and other electronics may have a decent street value and children need money. Custodians are underpaid but everyone can use a little extra. Air purifiers are needed at home because the schools can only provide breakfast and lunch. Finally, nobody could have seen this coming!
I knew a custodian for CPS every commodity in his house was in large supply and stolen from the school, toilet paper, garbage bags, dish soap, all soaps, silverware, cups, pots, pans, tools galore, storage boxes, furniture, paint, fluids like WD40, motor oil, gas, etc. this is nothing new. He never had to shop!