-- 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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Mr Vallas is spouting nonsense. He knows very well that there is no chance of developing Charter schools here over CTU opposition. The only effective political party north of I80 and east of I39 is the Democratic Party. The Republicans are comatose if not dead. Within the Party, the most powerful organized unified group is the CTU. The General Assembly did not pass Gov Pritzker’s agenda this year. It passed Stacy Davis Gates’s agenda. With the eclipse of Madigan and the unsurprising ineptitude of Pritzker and Lightfoot, SDG is the most powerful visible political leader in the city and state… Read more »
The pendulum is swinging back. And hard.