-- 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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There is without question a looming rental housing crisis. The state and Federal orders permitting evictions will eventually end or be modified, and some percentage of those tenants will not be able to afford back rent or even future rent. Instead of being laser focused on that issue, the Democrat controlled Federal government is allowing a flood of immigrants into the United States, resulting in even more people who can’t afford rent. How will all these people pay rent? No doubt, more executive orders, administrative rules, state and Federal laws, and government programs, resulting in more bureaucracy from the Central… Read more »
First the Illinois Governor creates executive orders permitting tenants to live rent free during COVID. Now House Bill 116 in the 102nd ILGA, which would allow municipalities to enact rent control measures, passes the Housing Committee. And the landlord who can’t generate a profit because a tenant(s) are living rent free? Or if rent control becomes law and a municipality passes a rent control ordinance, what about the landlord who can’t generate a profit because the government caps rent hikes? Or if rent control becomes law, how many improvements and would not take place because it’s not possible to hike… Read more »
Progressives have these naive fantasy ideas about how the world works. They believe that allowing renters to live rent free or low rent will reduce inequities. But in reality, it creates more inequities because of disinvestment.
Property rights? Doesn’t exist in Illinois. The government(s) of Illinois even own your property. How can they tax you and also tell you how much you can make? Unbelievable people. Reminds me of what the Nazis did to the Jews. Soon Illinois will think it can manage farm ground and oil fields. The end will come right after that.
Illinois will first have to check with Bill Gates, regarding control of Illinois farmland.
Mr. Gates owns a whopping 17,940 acres, according to The Land Report