-- 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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Chicago resident…. In reality, it’s every resident, but penning the title this way skews perspectives and opinions towards their goals… It’s just one guy! LOL
At leaset tell the taxpayers how many migrants city taxes are paying for? Is it 10,000?, 8,000?, 4,500?
This is what happens when left wing virtue signaling, and performative fraud cosplay, are made into government policy
Services addressing “Homeless” and “Migrants” are lucrative businesses. Chicago is spending a HUGE amount on new migrants, $/migrant, without any forthright disclosures regarding awarded contracts, selected vendors, budgeted line-items, or ultimate game-plan. We see “Big Black Box” of big spending coupled with absolute zero disclosure, so likely huge contracts to politically-connected folks providing bare-minimum services at gold-plated prices, yet again.
Wirepoints, please summarize for readers Michael Shellenberger’s excellent book “SanFransicko”, which discusses political clout and ultimate impact of homeless/drug addiction-services “industry” in California.
People need to figure out where this money is going. Especially the hotels downtown where citizen reporters can’t even get in to see what’s happening. Probably a lot of fire code and occupancy violations going on and other city codes being ignored.
Suspect City of Chicago is stupidly paying inflated rack-rate for migrants’ hotel rooms, not even discounted Travelocity/Expedia or hotels.com rates. Substandard downtown hotel Inn of Chicago hotel was a 3-star hotel, officially “closed”, despite its full occupancy with recent migrants. On East Ohio Street, Inn’s filthy windows, dirty entrance, and overall neglected appearance is a pox on Streeterville neighborhood.
Poor Andre! Who did you and your neighbors vote for last time around? Your complaints are getting awfully boring.