-- 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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What planet are these people on? The last six years have been disastrous for Illinois schools.
The results were disastrous, from our perspective, because performance did not improve under the Evidence Based Funding Formula. But the promise of the law was to close the funding and achievement gaps, not increase achievement. (“…its promise of closing Illinois’ drastic funding and achievement gaps between schools in property-rich and property-poor districts…”) The reality is that the communists have redistributed money from rich to poor and reduced everyone’s scores. Poor districts have more money and the performance gap between them is now smaller!! The law has been a success. This what communism does. Communists say “give me power and I’ll… Read more »