-- 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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And yet Lightfoot wants to play Santa with $500/month checks, rather than address quality-of-life issues that affect Chicago’s premier tax-base. Folks, when downtown office vacancies spike like this, real estate tax collections in downtown for those affected buildings also spiral downwards. This isn’t a “no impact on me” situation for Chicago taxpayers. Like Chicago’s looting/shoplifting problem, where City Hall touted “stores’ insurance” as reason to not enforce criminal law, as reason to not prosecute cases where “store-loss” is less than $1000. Lightfoot, Foxx, Evans, and Preckwinkle all operate on basis that loss of revenue to businesses, whether via theft, or… Read more »
As long the vote rigging and DC bailouts continue, I don’t imagine they really care.
More like Crime Variant.
Drive by shooting Variant-
Car Jacking Variant and
Murder Variant
And worst of all-No Prosecution whatsoever Variant.
Spot on, none of the women I know are back at work downtown nor do they want to go back. They don’t feel safe in the city. I’m a guy and I don’t feel safe in the city.
I was on state street and michigan ave a week or two ago during lunch hours and it was surprisingly more crowded than I thought it was. half the people were still wearing masks outside too. The farther west you went in the loop though the less crowded it got. Daley Plaza and State of IL building was practically empty and beyond.
Delta variant- the source of all problems. If it didn’t exist, they would have to invent it …
They did invent it.
The first question is why – did they release it on purpose or accident? The second is who’s going to hang first?
Hmmmm……when’s the big rebound? I’m getting depressed!I know! I’ll watch ch 7 where it’s always warm and sunny! Mostly peaceful too!
Downtown is lost forever! People have no reason to go downtown anymore!
Parking rates, crime, fee’s Who needs it!
Lori, you lost! Keep all your equity, CRT in the city!