-- 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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No mention about trade schools. The push has been to go to college but very little if anything about learning a trade. Trade schools are now advertised here in Rockford/Belvidere and upon graduation there are no loans. Many in the trades have retired and are not being replaced. Notice it is taking longer to hire a contractor and finish the job. Homes that could be built in 4 months can take much longer to complete and also materials are very expensive. Trades jobs can be very lucrative and fulfilling.
It would “pay off big” for some people in IL; just not you or me, or our kids or grandkids.
Wreck it Ralph would have to get smarter just to be stupid. Government doesn’t invest, it transfers from those that have money to those that want it. The government subsidizing higher education has led to ridiculous tuition increases that have SIGNIFICANTLY outpaced other expenses and wages. That’s what happens when government subsidizes anything. The elites in this country have sold kids a lousy bill of goods here for about 5 decades now with the “everyone should go to college BS”. This has led to the government subsidies driving up tuition, huge student loan debt, unmarketable degrees and high schools pushing… Read more »
Is this clown unaware that throwing more money at this problem does not work?
1st mate on the Titanic Martire says speed the ship up, he can’t see any icebergs from the aft of the ship.
Really ?…”investing in higher education”………blah, blah, blah.
Incredible that anyone listens to him. He’s on ‘higher taxes’ autopilot and calls it an investment. We’ve seen the failures and the results are insults …by any objective measure.
Increase higher education all you want but if Illinois kids in K-12 can’t read, write or handle mathematics, it won;t matter how much money you throw at colleges.
Where’s the corresponding information about what colleges are paying? I recall reading the one of the deans at U of IL is paid $1.5 million. Wasn’t it the advent of student loans that fueled tuition increase when that large pool of money could be accessed. Think there’s way more to this story than what Martire, the pro tax union shill, is arguing for in this article.