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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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This is a giant problem. The school districts only actually pay a portion of the cost of the Chromebooks and other IT related products for the schools. Depending on the district’s level of poverty, they can apply for Erate finding to cover up to 90% of the cost of the equipment from this federal program. This program is into the many billions of funding – each year. The Districts motivation to address this issue may not be very high at all because these didnt really cost them that much money, it certainly cost the tax payer, but not the District.… Read more »
Government largess (waste) creating even more environmental waste. Nothing new under the sun.