-- 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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Get rid of them all!
Chicago is a dead city Lori!
Fire. Them. All.
Bust CTU.
Take the key and lock them out; or vice versa. Keep the paychecks; cut off the health coverage and reinstate nothing when a few start crawling back. Ignore the parents until they recall the board members. Two-worker families can figure it out. A few foreclosures will lower the tax base and, accordingly, the tax-take. Cut pension payments and stonewall in the courts. We have all witnessed how teachers care for the children. (I expect there are some good teachers who are simply cowed by the fear of left-wing retaliation. That cohort can teach at a few schools whose doors aren’t… Read more »
If there is no hazard pay, it’s DOA
I’m sure this is her last, best and final offer. Until her next last, best and final offer.
They don’t call her Lori Lightweight for nothing.