-- 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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I’m hoping the end result will be the eventual defunding of taxpayer support of “higher” education thru the elimination of student loans and direct appropriations to public universities.
Excellent summary by this prof. NU has embarrassed itself once again. Just the latest stumble in a long series that started about 15 years ago and gets worse and worse by the decade. It is hard to imagine that the large NU Jewish student population can stomach this naked capitulation to Hamas supporters.