-- 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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Stupidity. Our state is hemorrhaging college students, without our crappy, low quality, unselective schools (NIU & SIU don’t even require the ACT or SAT anymore!). Our flagship is nearly a third foreigners, crowding out the natives, and is arguably one of the dumpiest Big 10 schools. His solution is throw money , not even at the colleges, but the high school students who don’t even want to attend our state schools. talk about flushing money down the toilet.