-- 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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When I attended my crumbling Chicago grammar school we had windows that opened and closed and over winter, radiators that warmed the rooms. The building was old and the tiles that the kindergarten class sat on were asbestos. Thanks to the Our Lady of Angels fire in the 50s, we did have push bars to exit in an emergency and regular fire drills. We had a janitor, but if we dropped something, we were expected to lean over and pick it up. Once a week we dusted our rooms, carried out trash, and pushed brooms across the floor. Older kids… Read more »
A wonderful description of going to school as in my time as well. Amazing that we survived those harrowing times
I want the contract to supply the replacement filters but I just cant figure out where I put my alphabet credentials on the bid. 😉
This is great news. The empty classrooms will have excellent air quality.
Shouldn’t this have happened over a year ago?