-- 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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Tenant-governed?! How long until the first rent strike with suspension of evictions during court battles?
In Chicago there is no such thing as nonprofit. Ask all the politicians who have gone to jail because their hands were in the till
Astounding!!! The left complains about TIFs being used as a “slush funds” for alders to dish out to deals to their buddies but looks like Brando’s “green affordable housing” bond is going to end up being his own “slush fund” to dole out to chosen developer buddies through board he appoints. Astoundingly, per Waguespack and Beal, he’s already chooses 6 project & staff. These developers get to sidestep usual HUD & CHA funding sources. Make no mistake, these bonds are CTU/Brando’s own personal slush fund…WITH ALL RISK ON THE TAXPAYERS DIME!!!.
Spot on. This is utterly nuts.
Big whoop–dee–do. Since the City has a track record of doing affordable housing units that cost approximately $800k apiece, $135 million will build –what?– 168 units. There are 30,000 names on the Section 8 Housing waiting list. Let’s just make sure Valerie Jarrett isn’t in charge of this or all the money will be gone and we won’t see any housing.