-- 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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Getting a lifeguard job seems like a great summer job $600 sign on bonus and $15.88/hr. I’m guessing a lot of kids don’t want to spend, or don’t have the $80 for the lifeguard class. Maybe CPS should cut out some of the gender and equity crap and give these kids a lifeguard class. Note to CTU trolls – figure out a way to capitalize on this and make it happen.