-- 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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So the union is spending their money where they think they will get the greatest return on their investment? Why spend money on politicians that don’t or won’t support you or candidates that have no chance of winning over the back woods voters? Sounds like a smart business practice. Also consider that the Chicago area accounts for almost 70% of the state, so 82% of the funds being spent around the city tracks a little heavy but not by much. Since Chicago area teachers make more do they also pay more in union dues? If that’s the case the proportions… Read more »
Hi Willie.
Leave it to the crooked teacher union racketeers to gerrymander the spending of their own members money