-- 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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School is done for the year, especially out here in the Southwest suburbs. It just makes me ill that these teachers and administrative people are getting paid. Not bad hey, 180 days minus 10 weeks if classes don’t resume. 130 days of work give or take a few days.
The government is now paying current employees to not work, and they’re also paying former employees to not work too, through pensions. What a scam.
The students aren’t learning anything in school anyway