-- 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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Nothing new under the sun here. In fact this dovetails with some of the highest per pupil spending in the country for the CPS (and Stacy wants $50 billion more!) Back in the early eighties Old Joe took some upper level 500 series engineering courses at Michigan State. If I remember correctly there were only 3 American citizens in the entire class! All the rest were foreign students attending courtesy of their governments or whoever MSU trustees or our government was in bed with at that time. At a tender 23 years old I said to myself that there’s something… Read more »
I told my son he could apply to any school except U of I. I knew we would not be getting any financial aid from there.
Back in the 00s, my son was accepted at UIUC. Based on his national test scores and high school achievements, he certainly should’ve been given some money from the school. He didn’t get any. His tuition even included surcharges because of his course major. Then, after he graduated, they’d call me for donations. I’m not making this up.
This is why both of my children graduated from the University of Iowa. It was less difficult to get into the schools they wanted for not much more than in state tuition at the University of Illinois! In my opinion the campus was prettier as well.
Universities don’t want in state students. They want foreign students so that they can charge higher tuition. There should be a cap on the numbers of foreign students in every major.
Foreign students are baked into Univ of Illinois’ business plans.
https://www.cnbc.com/amp/2019/09/06/university-discovers-solution-to-drop-in-chinese-students-insurance.html