-- 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
If these tests exist in 5 years time it will be interesting to see what the average scores are as compared to the pre pandemic timeframe. Between Covid and the decision by universities to stop using standardized tests as part of the admittance process, I would be surprised if scores haven’t decreased significantly. Wokeness, equity and diversity are all well and good, but I’d prefer meritocracy when it comes to critical professions, you know, like doctors.
You prefer a meritocracy, but the people in charge now prefer racial set-asides.
As you know, “affirmative action” used to be the widely-used term. Who knows how many sweet job offers I didn’t receive because of this program?
With many bureaucratic jobs, it doesn’t matter who gets them. However, for jobs especially in the private sector requiring a certain level of expertise in engineering, science, law, etc., it matters a great deal. For these jobs, companies making poor hiring choices lose competitiveness or worse.