-- 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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Not one word on cutting administrative bloat, salaries etc. don’t point your finger at cutting programs for kids, buying supplies. Cut your bloated salaries and people and start combining job duties. Everyone of you know it can be done. Every time in my school district all I see is superintendents on top of superintendents. Assistant superintendents, assistant superintendents to the assistant. On and on it goes.