-- 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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In the private sector, when demand decreases, businesses reduce costs by reducing workforce, reducing benefits, closing facilities, etc. In Illinois’ bizarro world, its government agencies often seek to do the opposite.
We’ve said it as firmly as possible since we first started Wirepoints. CTU must be destroyed.
CTU will be around longer than wirepoints. Since your website launched union power in Illinois has only become stronger. Keep dreaming.
You are correct. The CTU will be around longer than Wireponts. The despicable CTU has been around for 100 years ruining the education of poor children in the City of Chicago for a century. There’s a reason the suburbs exist the way they do, Bill, and the reason you live in Oswego, is because few people with means, outside of a handful of selective schools, want their children educated by the vile filth that are the CTU. My great grandparents left the City of Chicago and moved to, what at the time was a far suburb, because the believed in… Read more »
The CTU to much like the issue of abortion. I used to be vehemently against abortion, but now, I figure, if Democrats want to murder their children in the womb, who am I to stop them? And let’s be honest, the world is a better place with fewer Democrats. I’ve changed my mind on the CTU. If parents are dumb enough to send their children to schools to be educated by CTU members, they deserve the poor quality education they get. It just make it easier for me to succeed in everything I do, because they’re too stupid to compete… Read more »
This could be another example of the Illinois Inverse Proportionality (IIP) model; i.e., less demand (less riders, less students, etc.) requires bigger budgets. The IIP is another example of mismanagement.
Planned expansions. Right.
Let’s see the demand first. How are their ridership trends on their current service? Are they as lousy as the RTA/Metra/CTA/Pace? If yes…then no.
It seems that all government funded agencies need significantly more to do less these days. Let’s talk about government bloat before increasing any budgets.