-- 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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This is not well thought out. The state will end up giving money to students who never planned to leave the state and/or we’ll see people leaving after this arbitrary 4 year rule. Of course, if we didn’t dump so much money into higher ed pensions, we might be able to make tuition more affordable.
Ridiculous price for a seriously inferior outcome.
I’ll always the three big lies:
‘Nuff said.
$127K per student??? Is everyone who is employed there a superintendent? Rockford Dist 205 will have a new goal soon. Probably will hire 700 or 800 more assistant supers.