-- 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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Have to keep the schools open for the union to collect UNION DUES. CTU only cares about power and money.
Public schools serve the public and are built for the community. When that community isn’t using the the publicly funded building and school, the Public School needs to reallocate resources to address operational needs. That might mean closing schools. It is reality. It seems that just because public education is funded by a never ending and bottomless pit of taxation, educators can allow unused structures and resources to to be spent inefficiently. This waste has to end. It is ridiculous and obviously unsustainable.
Another 50 isn’t enough!
There are roughly 600 Chicago public schools in operation. If 1/3 of class rooms are empty, does that mean Chicago is looking at closing about 200 schools so all class room would be filled after 2027? A lot of principles will be scrambling for jobs.
Enrollment dropped from 115,000 to 18,000. And they say with a straight face that a school shouldn’t be closed because Tina Turner was an alum.
News flash- Tina Turner moved to Switzerland decades ago, where she finally became a citizen and passed away a few years ago. Time to face the real world as it exists now.