-- 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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I really resent that the media has been reporting potential civil disobedience as a ‘threat’. This isn’t about sitting at the back of the bus or separate water fountains – it’s about greedy teachers who want to make over $100,000 a year, plus benefits, and have an easier job with smaller class sizes and more support staff to make a stronger union, so that in four years they can return the the bargaining table more power than ever. The threat of civil disobedience is insulting, these people are out of their minds.