-- 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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If it is such a money-making machine, why is tuition still so high for in state students compared to surrounding states? Is the governor burying it in the backyard?
Tuition is high because it is a money making machine. Concern for students is limited. Remember this is the school that took out an insurance policy during the first Trump administration out of fear that the number of students from China would decline, a key full pay and significant cohort for the school. The status of the other public schools in Illinois helps them, because other than UIC there is no other competitive school to attend. Of course some may feel differently but the decline in public university enrollment has been significant in Illinois and will likely become worse. By… Read more »
So, a consulting firm, paid by the university, did a study to show the financial impact of the university of Illinois on the state economy. Is anyone surprised that the study provided the needed results to show that the University is good and should be given more money?
When in doubt, commission a study to get the results you want…
And how many of those jobs are DEI OR USELESS ADMINISTRATORS POSITIONS???