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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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It would be interesting to know the student metrics — graduation rates, test results, % going to college, etc. It says a lot that the author is focused on disparity in salary and pensions. Is this a pitch for higher salaries in rural areas? To me, it’s just more evidence that educators are too much concerned about compensation and benefits and too little concerned about students. No doubt cost of living is higher in urban and suburban areas and urban teachers have to put up with many students from poor or unstable homes. If a teacher does not like his/her… Read more »
I’ve mentioned this here before, but the HS in our town hasn’t had a kitchen for several years now due to budget cuts. Meals are brought over from the grade school and are often cold when the kids get them. So go ahead with your strike, CTU. We’re leaving this dumpster fire state next year anyway.