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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 reality is that a majority of Black people in Chicago prefer living in majority Black neighborhoods, but it’s taboo to say that. That’s why the market for affordable housing is mostly in Black neighborhoods. It’s the market at work. City Blacks can move anytime they want to non-Black majority neighborhoods and join the multi-racial dystopia that that everyone else in the suburbs enjoys. No one is stopping them from moving. The last cross was burned on someone’s lawn *decades* before the internet was invented. In fact, most of Chicago’s population loss over the last decade has been middle class… Read more »
The reality is that a majority of Black people in Chicago prefer living in majority Black neighborhoods, but it’s taboo to say that. That’s why the market for affordable housing is mostly in Black neighborhoods. It’s the market at work. City Blacks can move anytime they want to non-Black majority neighborhoods and join the multi-racial dystopia that that everyone else in the suburbs enjoys. No one is stopping them from moving. The last cross was burned on someone’s lawn *decades* before the internet was invented. In fact, most of Chicago’s population loss over the last decade has been middle class… Read more »
Once again, wouldn’t offering tax credits/ tax breaks for affordable housing run afoul of fed ARP funding to states & municpalities–no tax cut policies? Meanwhile, this cbs articale from a month ago say cha has thousands of empty units that mysteriously remain empty, many on north side (like Lathrop Homes which has sat empty for years). Or maybe the reality is the city doesn’t trust its own agency ,the cha, to provide affordable housing. And given the hostory of cha who would. CBS Chicago: Illinois Could Soon Face Housing Crisis, So Why Are So Many CHA Homes Sitting Vacant?.
https://chicago.cbslocal.com/2021/03/01/chicago-housing-authority-vacant-homes/
Tremendous idea. Start with the Lincoln Park area. And to get a better tax break leave the toilets out until after the assessor visits.