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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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Watch the you-tube video “Officials ‘Stunned’ Following Parcel Tax Vote, CBS Los Angeles”. Garcetti isn’t doing a thing about pensions or medieval diseases in LA. Somebody asks Beutner is LAUSD going to run out of money in 2 years and he says we’ll worry about that when it happens.
Tolstoy’s farm parable ‘I see mankind as a herd of cattle inside a fenced enclosure. Outside the fence are green pastures and plenty for the cattle to eat, while inside the fence there is not quite grass enough for the cattle. Consequently, the cattle are tramping underfoot what little grass there is and goring each other to death in their struggle for existence. I saw the owner of the herd come to them, and when he saw their pitiful condition he was filled with compassion for them and thought of all he could do to improve their condition. So he… Read more »
Oh, man that’s good. I regret that I never read Tolstoy.
Voters in LAUSD finally did the right thing, rejecting Measure EE by a landslide. It needed a 2/3 majority, and it got just 40%. And this was coming after the successful LAUSD teachers’ strike.
https://www.latimes.com/opinion/readersreact/la-ol-le-why-measure-ee-didnt-pass-20190607-story.html
Fantastic!! And once again the big mystery– why does the mainsjtream press continue to stick by reporting only the fake gov cash accounting figues? Even while mendoza still hasnt realeast 2018-17 cafr