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Among the mayor’s remaining options would be to tell the school district to budget for additional state money even if it’s not guaranteed, forcing a showdown between the state and the school district in the coming months. The mayor could also raise property taxes, find more city money somewhere to give CPS, or tell the school district to take out a loan.
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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BJ, JP, and Biden just go away
The Chicago Teachers Union, the Illinois Federation of Teachers and the American Federation of Teachers spent $2.0 to $2.5 million of teacher union dues to get their own lobbyist Brandon Johnson elected. He has no background or experience in running the third largest city in the US yet the taxpayers of Chicago elected him. BY his own admission he is overwhelmed just being a Husband to a Black woman and 3 Black children. There is little hope.NOW THE UNION OWN THE CITY AND THE RESIDENTS OWN THE PROBLEM. The Democrats liberal policies are destroying the City and the State and… Read more »
You would think a former union employee would welcome cuts at the corporate level.
Ouch.
Close under utilized schools and transfer resources to schools with higher enrollment. Oh wait, principals would loose their jobs at these under utilized schools
Illinois is going to look like a old western town in a couple of years, abandoned.
‘urban prairie’ in many communities and neighborhoods will be the outcome of Leftist Democrat rule – but they don’t care.
Mayor Playa really has no clue as to how to make good on the disastrous , outlandish promises he made to illegals and the folks in the community. Picking on whitey and blaming Trump, Nixon, Kaiser Wilhelm, etc for his deficiencies will only take him so far and won’t pay many bills.
Spend spend spend the good old Illinois way regardless if the money is there or not. The Illinois budgetary system is based upon the math taught in Illinois schools and if all else fails simply do not fund the pensions because that has worked for years. What could go wrong?
The unions want the money in their pockets now. They know they can always demand more from taxpayers later when needed for pensions. They can have their cake and eat it too, what could be better? Plus, they can blame the taxpayers for having “stolen” their pension funds. And there will be those who actually sympathize with them.
Uncle Ben should stick to selling rice!
Yeah, take out a loan. That’s the ticket. Kick the friggin can down the road again. That should be the state slogan on Illinois License Plates. Hey, if you are getting a loan anyway…just say yes to all the stupid demands from CTU….oh, wait…that’s what he was going to do anyway…
Close it. Fire them all. Start over.
Biden has taught Democrats that 1) Loans don’t matter, there will be a ‘Sugar Daddy’ 2) The law and SCOTUS don’t matter. So yeah, take out a ‘loan’ and then break the agreement – taxpayers will pay.
No way to run a railroad. Democrats are the party of chaos – completely unfit for leadership.
Unbelievable, taxpayer fiduciary CTU/Brandon is rejecting cuts to CPS budget his own board came up with while they haven’t even added all the gigantic $$pay increases$$ CTU is demanding in new “negotiated” contract? Or whatever Brando’s going to $hand over$ to his buddies…….with dopey taxpayer/ homeowners hold the debt-duty bag as usual!!!
Gosh, could he repurpose funds currently being spent on illegal aliens be spent on American citizens?