-- 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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What the Democrats did to these kids is one of the most cowardly acts perpetrated on Illinois children; even by their low standards. By ignoring the renewal of the program, they caved to the demands of the teachers’ union, which wants no competition that might expose their failures—no matter if it condemns these kids to a lifetime of poverty. The Democratic Party, friend of the impoverished? Not even close.
In Illinois, the Dems made a call,
Denying scholarships, leaving kids to fall.
With parochial schools closed,
Their futures are hosed—
Trapped in poverty’s cycle, one and all.
Shame on you!