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.
To see your future, have a look at Detroit. It has problems that simply cannot be fixed due to unions, clergy, politicians, zoning laws, and many and much more. Our betters profit from the declining status quo. Many (“most”) have left — both businesses and residents. It’s hard to tell whether departures are a cause or a consequence. Nobody in authority tells the truth and those who hear them don’t believe what they say. Those who temporarily control what we laughingly call the government go into the bond market with the assistance of lawyers and consultants and actuaries and underwriters.… Read more »
Illinois/cook county/chicago are losing people. Fewer people means fewer houses are needed. “addressing issues” and “creating development” are slogans, not solutions. For all practical purposes elected officials are not in a position to “create solutions”. Pretending these areas can be what they were in the past is how to win an election, nothing more. It’s just math. The metro area loses people, buildings are abandoned in the appropriate ratio.
Until the abandoned buildings, murderers and rapists are gone, who’d want to live or do business in those areas? ☹️
People leave because benefit of living in city not worth it. Over taxed over regulated and over politicians. Deputy Mayor Samir Mayekar What the hell is a deputy mayor and how much does he make and what is his pension.
Chicago currently had four deputy mayors, who can be looked up.
Vacant buildings have existed in Chicago, since about the Great Depression) 1930s (if not sooner), when Chicago was predominately White. ??
As communities changed from White to Black or Hispanic, (especially between the 1950s-1970s), more abandoned buildings occurred. ☹️
cx: (Great Depression)