-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
In state universities and schools there is a lot of pork.
Maybe the Assistant Deputy Dean to the Vice Chancellor for Diversity can take a 50% pay cut and squeak by on a mere $900,000 per semester
And perhaps the three dozen assistant to the assistant vice provosts – all pulling down $150K/year – in the office can be eliminated.
good close down these indoctrination centers of communism my tax dollars werent meant to over throw the goverment
Why won’t the state address the pension crisis instead of threatening universities? Ironic the governor talks about “science and data” all the time while cutting off future generations in Illinois from being included in higher education.
Meanwhile, the state SURS contribution is $1.7 billion.
More than 40% of the students at UIUC are nonresident. Many Illinois residents were denied seats at UIUC because of this. If UIUC needs even more money, they can raise the out of state tuition.
Oh well spend spend spend !!, how in the hell can 1.2 billion possibly save the university’s in Illinois that amount cannot even save one.