-- 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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The only people “getting this money back” are in the Teachers Unions.
How about focusing on getting results instead of throwing good money after bad?
Because right now the results are an epic fail!
Senator Halpin I read on this publication that 25% of Quincy students are meeting reading standards so, in view of that, what have you done to help the schools in your representative area? Please refrain from a “throwing more money” type of answer as we are so used to hearing and please let us know. Ok?
Halpin is ignorant of the facts. Children are not being educated, they are not getting jobs in Illinois, money spent on education is wasted and the state is not getting that money back.
Halpin sounds like a typical delusional Democrat. Schools are failing and turning out illiterate students? Throw more money at the situation. He is either just being disingenuous or is an utter fool.
The young college graduates are leaving Illinois for other states. No one wants to pay for a HUGE PENSION DEBT that they had nothing to do with. Illinois will soon be a state of the very poor and rich government workers. No middle-class private sector workers. Illinois has done everything to discourage business.
I rent housing that is often occupied by college students and will say that everything you wrote I have heard before so I can say that your projection of the future is right on target with my thoughts as well. I will add that Illinois attracts members of the free stuff army daily and someday the state will trade its large amount of electoral votes to the candidates that promise the most welfare. I do hope I am 100% wrong but if I were gambling I know what my bet would be…
Conservative students flee the state because they not welcome in an inclusive progressive utopia. Those that remain are the blue-haired freaks and malcontents.
PT, you forgot illegal aliens, public charges and roving crews of gang bangers.
Golly gee that sure sounds nice, but the return on investment for Illinois schools has been abysmal. When it comes to the leaders of Illinois education, pay for performance is a foreign concept.
Halpin sounds like a guy in Las Vegas who puts 100.00 into a slot machine and wins 22.50 back. He thinks he is winning!