-- 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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In the private sector you’d be fired long before you missed that many days.
the article states that the CPS office of compliance budget has gone from $900K to $4.4M a year?, but gives no $ figure on the astronomical amount of $ spent on substitute teachers, sick days, FMLA days, etc,,, or if those expenditures are on the up-rise? Just hire more/ pay more. Efficient use of $ is never the issue. All city depts are the same. meanwhile, like most, at my chumbalone job I get 3 week paid– combined sick day/ vacation days a year–which blows.