-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Ralph Martire has quite a racket going leading his innocuously (and misleadingly) named Center For Tax and Budget Accountabilty, which is primarily funded by public unions and acts as a public union advocate despite its name. He’s essentially a public union lobbyist. His time on school boards in River Forest and then Oak Park was advocacy for increased budgets rather fiscal discipline.
And funded by the state as well. Earlier reports here show the grants from the state.
Last night, it’s hard for me to listen to WTTW’s “Chicago Tonight” because it’s so blatantly ‘new machine’ left, but I try anyway. CTU’s crazy demand they continually legitimize. In coverage of CPS/CTU contract negotiations all the host/journalist commentators are simply all in agreement and will make a blanket statement—“CPS is traditionally underfunded” which they can conveniently get away with because of the Martire/CTBA dem machine bought and paid for and now law EBF. And therefore, any alternative arguments about astronomical education overspending ($30g a student, etc) compared to other states, municipalities, etc that you will only read on WP… Read more »
Did CTU help pay (with taxpayer $) for the Martire/CTBA –EBF would be an interesting question to ask?