-- 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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As long as the CTU is in charge of K-12 education in Illinois consider it a Black Hole.
CTU will demand more and more funding for the children with NO improvement in student achievement or graduation rates.
Great article! Thanks.
He’s the BEST…
“Never have Americans spent more on K-12 and higher education and never have they received less in return” Wirepoint’s articles on the abysmal reading and math scores bear witness to this.