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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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So you are going to get one group of corrupt morons to take over management of another group of corrupt morons? You filth in Illinois deserve everything you get. You’re that dumb.
We’re all aware of how Illinois and Chicago manage taxpayer funds. In both cases, there’s great and continuing abuse occurring. Therefore, it doesn’t make much difference to the Illinois taxpayer whether Chicago or Illinois manages CPS. It would be despicable either way.
For starters, the State is looking at more than $20B in budget deficits over the next five years. That would appear to make it difficult to assume responsibility for a school district that has been equally mismanaged. The Mayor has pissed off the Governor, so that’s strike two. Look out below.
Strike 3 is the orange man!
The proposed closing of schools that are as low as 16% utilized is not a race issue. It is a manipulated system by the unions to make sure their needs are prioritized over those of the students. Perhaps an elected board will see that. Godspeed to them as they have just been installed as crew members on the Titanic.
Put the state in charge?? Talk about the fox guarding the hen house. I’d sooner ask them for help in figuring my income tax return, they have shown they have no financial knowledge-other than how to spend money they don’t have.
Absolutely, have the state take it over…that will fix it, they know what to do, all will be well then… Wow, if we think this is a dumpster fire now…have the state government take it over…these people will simply cave and throw more tax dollars at the problems with no plan or accountability.