-- 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 you get a marketable degree (of which there are many) from a good college (of which there are many), odds are you’ll do just fine, if you have work ethic, tenacity, etc. I think that’s been the formula for many decades, and it’s still true today. However, even in this case, you’re still not absolutely guaranteed a successful, high-paying career. Only death and taxes are guaranteed.
Wow. Good article. Becoming a truck driver, a bus driver, an appliance repairman, or a bartender after high school has often worked out better for people. I’ve known college dropouts who have made their fortunes by starting their own businesses or by becoming top salespeople in a field they enjoy. Certified nursing assistants are always in demand and can command really good hourly wages. A 4-year college degree in Illinois got to be too expensive because of administrative bloat. Community colleges can help deliver vocational tech programs that can jumpstart a career. (I don’t have a lot of faith in… Read more »
Pension costs have destroyed the economics of Higher Education.