-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
“Sworn in” – that sounds like it relates to a position where the individuals would make responsible decisions in favor of the students and taxpayers. If they don’t, there’s no point in swearing them in.
And opposing football players huddle and pray together before they try to knock each other’s heads off also.
I’m no reverend, but allow me to offer up this prayer for our newly installed CPS board members: Oh Lord, we thank you for your grace and guidance at all times, especially in times for great importance and difficulty. Help our vision to be clear and our minds focused. Bless us with understanding of the hard-earned bounty our fellow Chicagoans have bestowed upon us. Bless our actuaries and accountants with clarity of purpose, as they work to determine the exact amount of that bounty. Bless our eyes to let us not lose sight of that bounty, lest we spend more… Read more »
Let us bow our heads in the name of Brandon, the teachers, and the holy Union, find the strength to recognize our sacrifices for the good of our children! And make sure our contract serves our union members well… amen