-- 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 information sector is the only bright spot. In a state where 70% of kids graduate lacking proficiency in reading and math.
The school system has been mass producing its own competitors for public funds for years. Apparently that wasn’t crazy enough. We needed to import thousands more.
But they couldn’t stop doing that, you see. Because somebody would be mean to them or something.