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.
So how does giving one educator, based on identity, get more money than another one when both are, by union contract, being paid the same amount of money when both are at the same level and job, possibly equate to equality? If anything it is exactly the opposite.