-- 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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This bill creates a 12 member Whole Child Task Force that is comprised of at least three labor union members (1,2,4), a specific carve out for CPS (3), and two pro-spend special interests (8,9). Only two members seem to have the subject matter expertise (5,6). (1) One member of a statewide professional teachers’ organization. (2) One member of another statewide professional teachers’ organization. (3) One member who represents a school district serving a community with a population of 500,000 or more. (4) One member of a statewide organization representing social workers. (5) One member of an organization that has specific… Read more »
The good news is that task force never accomplish anything.