-- 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 see a deal already being made and Lightfoot will be triumphant and exclaim “no strike” for the children. The Union will blather on about how great Lightfoot is and continue to soak up money and do a very poor job of educating children. And the beat goes on.
Remember the last CTU strike over the pension pick-up when Rahm “negotiated” ending the 7% pickup for new hires but new hires were put on a salary schedule with salaries 7% higher than those with the pickup? I do.
Time to do a PATCO. Of course “its for the kids”. We need a viable option to counter a strike…cause our legislators work for themselves and the public unions. Teachers play rough, and continue, along with most of the IL legislature, to attack middle class Illinois tax payers.
Remember…’a promise is not a promise in the absence of honest dealings.’
Please strike! My suburb with great schools needs new young families to move in and drive up home prices! A striking CPS would do wonders for families thinking about leaving (just met one today actually, they just moved out here 5 months ago!)
CPS can teach the children of illegals all they want, it’s like a captive audience!
I agree strike, but for me its mostly about the entertainment value of it. I just love watching entitled govt workers cannibalizing a “woke and broke” city hall repeating “Its for the children”, even though I already know the ending because that union basically owns city hall. I’d like to watch Lightfoot take her first marching order from her owners. Even that union didnt “pay for” her specifically, they actually paid to own Prekwinkle. But in the end Lightfoot wants to be “owned” by that union and votes, so she will now get her chance to be bought and paid… Read more »
Yeah, it looks like Lightfoot is headed toward breaking the all-time record for least amount of days in office to switch from a reformer to a tax-and-spender.