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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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Simple solution. Quadruple real estate taxes. Sales tax at 20% on goods and services. Quadruple tolls. Quadruple fines. Institute a city income tax only on the really really rich. You know people who make over $100,000 per year. Tax, Tax, Tax and then rinse and repeat. The mopes love it and none of them are bright enough to get out of the way of the steamroller moving at 1 mile per hour toward them. They actually have it coming.
How about BANKRUPTCY and start over with taxpayers and not politicians at the other side of the table? State Unions should be illegal, no fair representation for the people paying the costs.
CPS already has BILLIONS in loans…
When the district faced deficits between the 2014 and 2017 fiscal years, CPS borrowed money to cover operating expenses since administrations at the time didn’t want to cut costs. The district owes $3.7 billion in principal and interest payments for that borrowing still.
That’s not all, it’s actually a total of 9.3 Billion it already owes in loans.
9.3B in loans? OK, I shouldnt be surprised as there are reasons CPS’ debt ratings are so low. But9.3B? And CPS is operating where half the schools are underutilized? Against that wall of debt. And Johnson wants to borrow more money? There is a lack of realism in both CTU and CPS.
Johnson clearly demonstrates he’s still merely a CTU union-organizer, promoting the CTU agenda of big paycheck for little work, no accountability, and guaranteed job-retention for CTU teachers. CTU has zero concern, zero interest, in the welfare and education of Chicago CPS students. The less work, the fewer academic performance milestones, the stripping of academic curricula, the more CTU succeeds in its mission to maintain CPS schools as basic free daycare for working-class Chicago families.
I don’t care if Pedro stays or goes. It makes no difference. The school will continuing all its focus on SEL instead of academics and scores will continue to plummet. The man has done little to improve academic scores, and based upon his staff picks, it seems none of them care about academics either.
Anyone CTU is against should be retained and endorsed. CTU should not be controlling the public schools. CTU is only for themselves and not students. Look at the test scores.
CTU should have input but not control of CPS.
These are two losers in a battle over a dumpster fire burning toxic waste. I don’t care what happens to either of them.
This is all about playing state taxpayers for the patsy – Pritzker and the Leftist Democrats are playing a game of ‘It wasn’t me’ Pritzker already set the tone with dog robbing the states gas tax monies for the bailout of the CTA jobs program. No one is talking meaningful cuts.
Per article: “Johnson also could alienate some members of the Council’s Hispanic Caucus”
I think this is an understatement, CTU/Brandon firing Martinez is being seen as anti Hispanic and taking on racial overtones. Hispanic pols are speaking out. Hispanics are 47% of CPS and the biggest population group in city and biggest minority in state. I’m sure JB & Springfield machine are well aware.