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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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Resign? Don’t resign? What difference does it make? Close schools? Don’t close schools? Do any of you really believe that Chicago will engage in the common sense thing to do? The bowl is overflowing with waste. The pipes are cracked and leaking. Flushing may help or it may not. The whole thing needs to be condemned and a new structure built. What is there has structurally failed due entirely to the democrat/union/media trifecta. Renovation is like putting a band-aid on a sucking chest wound. Destruction is the only solution, but that won’t happen because the simps and slaves like the… Read more »
Has anyone factchecked any of his claims?
Not sure he should be bragging about having mostly added nonteaching positions as enrollment declines.
A good business decision would be to close underutilized school and put resources where the students are enrolled
When has the CTU ever agreed to things making sense?
The have more teachers at some schools than students and they still can’t read.
OH MY – what would the do with the huge glut (already insane levels) of teachers but lack one’s required (or willing) to cover state mandated programs. The want to start their own CTU housing program, surprised they don’t want to start their own electric bus building company too!