-- 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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Schools are jobs programs for union teachers, not for education
Charter schools were severely hampered by the actual contracts. For one they were forced to use classroom teaches verses ritualized education. this subjected them to the major flaw of the public school system, which is rout education delivery is subject to the vagaries of the teachers ability as well as the student’s attention span on a given day. Both are variables in traditional teacher lead classroom delivery that is totally eliminated by a virtual education delivery system. This also made charter schools far less cost effective as alternatives, which of course is what the establishment fears.