-- 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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Boy they love to gouge property owners every which way but loose — the transfer taxes are already insane!!
Many deserve a break but many more refuse to pay the rent because they are entitled. There are millions of unfilled jobs but too too many are unwilling and refuse to work. Thanks Biden for enabling the lazy.
The problem with people not paying rent is that they get habituated to the not doing so. They no longer budget for the expense, and getting back on the paying rent train becomes very difficult. And the extended eviction holiday will shrink the availability of decent housing stock. This could be a disaster. Government actions have consequences.
Sometimes the hard reality is you cant afford to live here.
Lori doesn’t want tent cities, she thinks it makes Chicago look bad!
She could commission pretty rainbow tents.
You need to pay rent!