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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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Did anyone even verify these alleged threats, or is it just easier to throw a wheelbarrow full of money at someone that apparently doesn’t want to actually come to the office to do any work? In this day and age, threats are easy to substantiate with a minimum of digging. This scenario reminds me of the alleged threats to Kinzinger that sent him packing, threats that were never explained in detail nor any mention of whom made them and prosecution for doing so.
DJT is president so everyone can cry wolf. Sorry – the division won’t work. Even Illinois citizens are smarter this time. If they want to see what is really embarrassing to Illinois, take a look at the Governor, the CTU, our RE taxes, our income tax, our sales taxes, our utility taxes, the vacancy rate in our biggest city, our crime and our education system.
I would like to know what exactly are the day to day duties of a school superintendent. She said she was working from home doing what? Maybe she has another job working from home. I would like to know those supers who are showing up what they do in a typical day? There are districts with as few as 100 students and they get paid $200K and up. Do they teach? In Florida they have unit districts comprising of 40K students each. How many districts here can be consolidated to comprise 40K students? Look at all the districts around Harvey.… Read more »
Here is an older article from illinoispolicy.org that states 44 percent of school districts serve only 1-2 schools. The school districts have their own principals, superintendents, etc. Nearly 25 percent of Illinois school districts serve just ONE school, and over one-third of all school districts have fewer than 600 students. Since you mentioned Florida, it states there are approximately 2,400 students served by an administrative district in Illinois, versus 40,000 in Florida. It wouldn’t be that hard to save a substantial amount of money for taxpayers – they just are choosing not to do it. There is likely more updated… Read more »
Thanks. Good info!