-- 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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Typical. There is no analysis whether there are enough students using this facility to pay for all of the buildings, services and crap that exists with these empty organizations. Just go to the state and ask for more money. Tuition should cover the costs of operation and if it doesn’t close it. More state funding is propping up a failing institution that is dying from lack of interest by customers. EIU isn’t the only one – they all do it. Perhaps lose some of the buildings that stand empty – perhaps get rid of the instructors who work 4 days… Read more »