-- 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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Lightfoot’s offer of 5 years to protect teachers from damage of a recession and rising health care costs. How generous! Of course at the expense of taxpayers without our consent. Who is protecting us from that damage? These generous offers (which CTU rejects) are never on any ballot or referendum. It boggles the mind how any 2 parties (unions and politicians) negotiate contracts always behind closed doors with the 3rd party (taxpayers) being liable for the outcome. Until the phrase Education shall be “FREE” K-12 is defined with a $$$ sign to taxpayers it is never actually free. There is… Read more »