-- 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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The eviction ban will never be lifted. Never
Sure it will. When landlords can no longer afford the property taxes the city will start allowing evictions after the property is sold at auction. While those property tax sales are currently on hold the city will be forced to start allowing them in order to get paid. When it hurts them it will be allowed. If it’s only hurting “evil” and “rich” landlords then who cares. Who knows maybe the city will allow the squatters to pay the property taxes and keep the eviction moratorium in place. The squatter gets to stay and only the landlords and banks get… Read more »