-- 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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The correct response for white people to these proposals is: Why should I give up my relative privilege for others? They’ll talk about equity and fairness but the correct response is – “I reject your morally reprehensible ideas which are neither fair nor equitable. I will never give up my ‘privilege'”. It’s better to admit your privilege these days and refuse to give it up than to deny it exists at all.
I mean really, what are they going to do about it?
And may more teachers and parents follow suit.