-- 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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Let’s delay a little longer and the teachers will be off for summer won’t go back at all. Lori obviously can’t handle the CTU and hopefully Chicagoans can recognize that and start making plans to get someone better in the Mayor’s office. And Springfield is obviously ignoring her with the boost to pension costs, expansion of the bargaining issues CTU can negotiate, and on and on. Time for Lori to go back to doing whatever she was doing before she got elected.
Why bother now, it’s mid-April? Is the idea to get the Teachers back in time for Spring Break?