-- 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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If they are afraid of the bad image a shuttered school brings, demolish the school, and replace it with solar panels or with housing that costs less than a million per family.
When South Bend shuttered it’s central high school, it skipped a step and converted it directly to condos.
Claypool another past his expiration date pol that has to chime in on everything like Danny Davis. These clowns have to have a city council meeting to get a curb painted.
Per Mr. Claypool, in order to close the four high schools in Englewood that were all under-performing academically and were significantly under-enrolled: They also bargained for a new community health clinic, neighborhood construction apprenticeships, new safe transit options and a college credit program with Kennedy-King College. Under conditions of severe financial stringency, CPS agreed to more cost including the above items and building a new state of the art high school. The Illinois Report Card for said Englewood STEM school shows a 62% graduation rate (among the lowest 5% within the state) and an 87% rate of chronic absenteeism. Amenities… Read more »
Really slimy of Claypool to cite ProPublica on the data about underutilized schools. He knows full well that Wirepoints has documented the hell out of that for years, long before lefty ProPublic wrote on it just recently.
Interface, yes tell them its closing.
Empty schools is costing 100’s of millions.