-- 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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1, So now they’re called English Learners? 2. Who said CPS enrollment wasn’t increasing? 3. If students aren’t learning to read, write, and do math at grade level, increasing enrollment isn’t a good thing.
I bet a real audit would show the actual student attendance numbers are actually down. The numbers have to be pumped up to support efforts to get state and federal funding, justify a real estate tax increase and appease the Chicago teachers union to minimize the chances of having to lay off teachers. It would be interesting to note how chronic absenteeism affects these numbers.