-- 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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Isnt this guy the beloved SEIU, AFSCME financial apologist? What a buffoon.
Always someone else to blame for their failed ideology.
Ralph, it’s your Democratic run wards, cities, counties, and states that have failed blacks for decades by encouraging the destruction of the family and reliance on the state.
Clearly Black Lives don’t Matter to Dems. Only black votes. The evidence permeates the “institutions” your party has run forever in our nation’s inner-cities.
The motivation for your hand-wringing in a presidential election year is obvious to an increasing number of Americans, black, brown, and white.
I believe it’s inequitable and unjust to take hard earned local tax dollars from the suburbs and downstate, and redistribute it to Chicago.
There is more than enough money funneled into education but most of it is going to salaries-healthcare-maintenance-pensions-construction/etc and not into the classroom. Total education costs in Illinois from all sources (mostly taxpayers) is around $28-$30 billion. $14-15K per student for 2 Million students. State minimum requirements per pupil is approx $6,500. Here in Rockford private schools charge about $7K vs 15K public. We have found out how ill prepared public schools are for at home learning even with $30B annual budget. Yet there is still not enough money.