-- 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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They called Daley racist.He was many things, including a terrible manager of the city’s finances. But if you look now, We have “people of color” in most of the top spots in city and county governments, and the State as well. And things have never been worse! CPS essentially serves as a jobs program, a money laundering operation through contracts and bond deals, and a free daycare. The expectations are so low for students and staff that families who can leave. We’ve had consecutive Black mayors and the reigns of Toni Preckwinkle and Kim Foxx to thank for terror, murder,… Read more »
School with 28 students and 32 teachers or administrators. Let’s be serious they could save 100’s of millions closing schools using less than 30% of it’s capacity.
It’s nice to see these folks talk about the moral imperatives in keeping unnecessary schools open, while overlooking how poorly the students are being taught. In terms of kids performing at grade level, the CTU should be disbanded. They don’t care about the kids. They care about one thing – a big contract with no accountability for performance
A budget isn’t numbers, facts or anything as mundane as that. No, it’s feelings, sympathy for chronic victims and wishful thinking that blowing money will- nill with get us all to the blissful Utopia we demand and deserve.
A budget is not a moral document. It’s hard numbers about what we as a city can afford or not afford These people forget it’s taxpayers money and the future financial health of a city.
This is how cities go bankrupt.