-- 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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WGN never even thinks to ask why it costs so much for so few units. Of course Do Nothing Durbin is there for the photo op. The guy is a gigantic waste of oxygen. Put him out to pasture already.
Scam City. What a joke. At $585k per unit there is $200k of bs in these units. Consultants. Advisors. Lawyers. Project mangers. Union wages with padded payrolls. Union BA’s getting a cut. A ghost here and there. The private sector left without all the nonsense could produce 400 units and still make money doing it. What a travesty.
Affordable for the residents? But not the taxpayers. $117,000,000 for 200 units = $585,000 each. Who is building these? Bezos-Gates-Musk in their spare time.
$585,000 per unit, bet these are going to be pretty nice living spaces. And, where is this funding coming from, who pays, how much will this cost the actual homeowners to buy one of these affordable unit?
They will be free as Zippy dictates, give it
5 years for the homes slums after that,
Obama center no one will see it after 10
Years. Let’s all listen for that flushing noise.
Affordable, after The Machine gets it’s cut.