-- 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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Transformed? Cough, cough, 14 years, 1000 houses, at what actual cost to taxpayers, on average? I’d guess $500,000+. Marvelous use of tax dollars, Toni.
It’s taken 14 years to complete 1,000 homes. It would be interesting to see a story about the current status of the first 100 homes built. Are they a shining testament to the efficacy of the program? Somehow I doubt that.
Why are black and Latino areas ‘disinvested?’ Could it have something to do with crime?
Just asking.
Better question – who destroyed what was there before? Those buildings didn’t just build themselves. That neighborhood was just a prairie before some group of settlers came along and turned it into a neighborhood. What happened?
Also, why aren’t the community members investing in the neighborhoods themselves? Property is cheap, rent is cheap, neighborhoods are crowded…
Reading the article is just a word salad. What they do? How is this funded and what are the results? The article was nothing but altruistic gibberish.