-- 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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So the areas of the city with the most vacant lots get the majority of affordable units? Should we leave the South and West sides barren of new development? What block in Lincoln Park should we plow over to accommodate affordable housing?
The west and south sides used to look like Lincoln Park,maybe even in your lifetime. They won’t stop until all of Lincoln Park looks like the west and south sides.
How much more ‘affordable’ can housing in Black areas get? Didn’t we try ‘free’ housing, aka projects – and collectively decide that it was a miserable failure? If it wasn’t, maybe we should have kept, and not destroyed, all of those high rise affordable housing.
Affordable only when it is totally free, free property taxes, free utilities, free groceries, free cars, and so on not until it will not cost one red cent will they be happy. I’ve so had it with this crap.
It’s not good enough because the affordable housing is not in the most desirable neighborhoods. Therefore it is still discrimination, and we will have to try harder to please them.