-- 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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Yes, but for whom will Chicago be more affordable – for the low-income residents at the expense of the middle-class?
#1. Reparations
#2. Reparations
#3. Reparations
The end.
The Great Leaving is already happening. Smallish 60 year old split levels in my decided not-Chicago suburb are listed at $500,000 and selling quickly as anyone with an IQ higher than 100 realizes that it’s now or never to get out of Chicago. I’m not entirely convinced that Chicago will collapse like Detroit, but the bad areas of Chicago proper will expand, and housing prices across the board in most areas will collapse accordingly. The 1970’s were bad times for most inner-cities yet the suburbs thrived: St. Louis, NYC, LA, Cleveland, Baltimore, etc. Will the suburbs in Chicago collapse just… Read more »
Debtsor, Detroit suburbs and Detroit city proper were 2 separate entities for decades after Coleman Young came on the scene.
Now though, the greater portion of Detroit lives in the Detroit suburbs and by and large with some regional exceptions Detroit city proper is domiciled by the underclass.
The City of Chicago will collapse in its own special way. Think of Bowmanville looking like present day Highland Park, Michigan.
Safer and More Affordable will never happen with the Chicago Teachers Union puppet running the city. In fact, expect the exact opposite to happen and it starts on Monday