-- 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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It’s interesting that the article gives a strong, positive note of the pre-K programs that were expanded in Illinois. At the same time, we know that as those children march through the rest of their education, they fail at basic skills like reading and math. Are those pre-K programs really valuable or are they publicly supported childcare? If they provide gains to the children, why are they lost as they progress in public education?
In another breaking news story, water is wet.
Doesn’t take a national magazine to tell me that
Without a doubt, Regardless of what
Axios says, Illinois sucks like a Hoover!
For good reason.