-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Nothing ever survives in the infested areas, nothing. Build something nice and it will be destroyed. Public housing units destroyed, U235 houses destroyed, Section 8 rentals destroyed. Open a store, shoplifting, employee robberies, vandalism etc will far outpace any profit expected to be generated and closure is next. Gotta blame somebody because those “folks” aren’t the problem!
This middle aged, almost elderly woman says she grew up in Austin and watched it go to crap.
Hmmm……so you lived there, and let it go to crap.
That’s how it usually goes.
Generational welfare in action
The lack of self-reflection of the Austin community is disturbing. They collectively raised a generation of criminals and drug dealers and let the entire neighborhood sink into a generational economic depression….and then are like “oh it’s not as good as it once was!” Well of course its not because the current residents of Austin wrecked it. Don’t give me that crap about how Oak Park used to be racist 60 years ago because these days it’s the second most anti-racist town in Illinois. Do something – shop local, pick up the garage in a vacant lot, parent your children, parent… Read more »
Hmmm, does she even know where she is? Chicago ave. runs east and west. Drive past Austin and you’re in Oak Park! Two big municipal pools, lots of parks too. It’s not Chicago! I grew up in this area, lots of big beautiful homes. Many three stores homes, some with ballrooms on the third floor! Now it’s a ghetto! Where beautiful lawns and gardens grew is now hard pan covered in chip bags. Yup, there were grocery stores and I do remember the bowling alley, it was a dump back in the 60’s. A good place for grade school age… Read more »