-- 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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We have a nice university here that graduates plenty of teachers every year that can’t find jobs
Teacher shortage = more political pablum
I’m not against tax credits, but extending these credits (indexed to inflation) up to 20 years seems excessive. And these credits should be means tested or tied to middle class or lower school districts. But this amounts to subsidizing an education majors’ college education, assuming they go into teaching.
https://www.congress.gov/bill/117th-congress/senate-bill/686/text
How much have health care and retirement costs increased?
Along with everyone else except ceos and politicians.
Did I miss something, or does this proposal for tax credits apply to all teachers? No income max for the credit to apply?
I know, lets make their pension program so amazing that they will be fabulously wealthy in retirement!…oh wait…we already do that…