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In June, 5,000 Chicago residents received the first of 12 monthly payments of $500, no strings attached, as part of the Chicago Resilient Communities Pilot. And Cook County has announced that its Promise Guaranteed Income Pilot will soon distribute $39 million to 3,250 low-income residents in monthly payments of $500 for two years. “Together these pilots represent the largest investment in unconditional cash assistance in a single metropolitan area in the United States,” according to the University of Chicago Inclusive Economy Lab, which plans to measure the impact of both pilots. The programs are funded by the federal American Rescue Plan.
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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Folks, the dollar will become scrap paper by the time Bidet has been institutionalized in a memory care facility.
I suggest that any of you so inclined to defer gratification stack instead of depositing money in a bank account.
There’s a good reason the Constitition says the government has the power to “coin money and regulate the value there of.” Not “print money.”
It’s impossible for pols to print gold and silver.
Its FREEEEE! C’mon, join the party
The Illinois lottery will soon be reporting that a record number of scratchoffs were sold.
Cannabis shops as well
and those really big rims that spin backwards
What would be good to know is what are the demographics of the people getting this money?
How much is in their bank accounts? Ever notice how thugs are always able to come up with their cash bail?
Lol. There’s not much cash ball these days
And the price tag for this is pretty close to the amount of the property tax increase Larry is asking for. Chicago is gonna need more realtors!
If this program is indeed successful, it proves “fund students, not systems” can also be successful and worthy of a similar pilot.
Are there any truly independent eyes on this program? Because I gotta believe this entire study is going to be skewed towards positive results to justify the continuation of the program. I’d certainly like to know the success metrics.
These Basic Income giveaways do nothing to improve the lives of anyone
https://www.investors.com/politics/commentary/universal-basic-income-experiments-fail/
Lying bullshit..peddle your shit elsewhere child
Recommend UChicago study starts first with the national Great Society transfer payments set in place by LBJ et al in the 60’s. Much > #’s and elapsed time. Then move to Chicago-IL (#51 in fiscal condition in US) payments.
The University of Chicago should know better that government does not make “investments”.
Any time someone refers to a government “investment” you can be 100% sure that the “investment” is just a hand out, pay off, bribe, or political reward to a member of a protected class.