-- 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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so no talk of lowering the cost of tuition,just talk about more government subsidies. The core problem is college does not truly represent a value proposition. We have far too many people pursuing expensive degrees that do not readily lend themselves to employment opportunities. Another issue is the gender difference in who is actually graduating from college. Colleges are having a strong deficit of young men in attendance, but I see that also is of no concern. . The truth is we live a mobile, virtual society now. Companies can attract all the evacuated talent they wish, if the price… Read more »