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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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Illinois gets more hilarious by the day but one has to consider principals get out and vote while the average Illinoisan is at the casino, food stamp office or reading the high school sports page.
Not really sure a principal union will have too much leverage in a contract negotiation. Could you imagine them threatening to strike? Principals are not in the building all the time and yet the school day continues. If the kids are in school will anyone even notice or care about principals?
Principals would need to get assistant principals onboard as well, but I agree the school could go on for an extended time without one. Principals at severely under-enrolled schools will have no leverage.
Fine. Good.
Illinois isn’t going to begin turning around our pestilentially disastrous finances and governance, and our largely failed-n-failing public schools, until the lib/progressive/Dem/union/woke race to bottom has reached a point where there just isn’t any lower to go, and the public’s tolerance for more and more taxes to pay for all this expensive failure has been exhausted.
More power to ’em. The sooner we get there, the sooner we’ll chart a different course.
Principals buy the Ultra Luxury homes in Florida. Pensions worth $5 million plus. All on the taxpayer’s money.
Was the bill necessary after the amendment passed?
That’s been my question all along nixit. It seems pointless.
The logical end of all of this is to allow public officials to unionize themselves. Why should a state representative NOT be part of the AFL-CIO?
I’m still waiting for a savvy pol, rep or dem, to push Amendment 1 to it’s absurd extreme and go for a 100% universal Illinois union for all. Public/ private or just plain old chump taxpayer. Why not!!!
Why aren’t any of the nutty fake progressive mayoral candidates or ctu push for 100% universal city union right NOW!!
That’s like the former Soviet Union. Everyone was a “Public Employee” and it didn’t seem to work out. The end result was most people were destitute.