-- 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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Despite her sympathies and socialist inclinations Lightfoot has to make a stand with CTU. If she caves to CTU then it’s financially over for the City of Chicago. But ultimately that is a good thing. The sooner the City becomes bankrupt the better for the overburdened and downtrodden taxpayers.
I look forward to stepping over destitute former CTU members begging in the street. I’ll give them baggies of dog food. Kass says that Gravy Train is probably the best tasting.
Heard sharkey & gates on wttw last night, could hardly stand it…but since ctu feels they know how to make the school run better than anyone, I say Lightfoot should call thier bluff and hand over say 6 neighborhood schools to ctu as there own charter school venture and give them funding based on cps per student average (think thats around $15gs/per student without bennies) and see what they can do.
Like all socialists, the CTU believes that unelected party leaders (union bosses) know better than the electorate. They’re essentially saying “we are workers, we know better than you.”
I also saw them on WTTW, interesting how they dodged every question and just answered it with their talking points. As an example Ponce pointed out that the average salary after 5 years would be $100k and they said he was wrong and then he asked what it would be and they dodged the question.
Rumor has it that Lightfoot doesn’t plan to make-up school days lost to a strike. Not sure how she can do that. But that would mean any striking teacher stands to lose wages, which is a rarity in a teachers strike. That means for every strike day, that contract offer gets smaller and smaller. Financial skin in the game, so to speak.
I think by state law schools have to have 176 minimum class days. Cps has a cushin of i think 7 extra days or something like that beyond the 176 days…thats how shot the work year is (minus sick/vacation days) for the ctu-$six figure socialists$.