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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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Oh, the irony that the descendants of those who protested and marched against the immorality of segregation, are here reversing it all, one (over budget, full of friendly kickbacks) project at a time.
Lets hope its not sacred indian burial ground.
Not to out-woke, maybe Chicago should consider being first in nation to require all new housing units include a (wink-wink) “burn sage” balcony & roof top grow garden?
The jig is up….
I heard the announcement on WJIG.
Take a look at the Yimby website. Every affordable housing project is located on the South or West side. This is the first one I have noted on the North side of the city. Each project contains amenities suitable for a high-end condo building and costs more to build than first-rate condos sold for a profit. If they truly were interested in more housing, they would build more economically and focus on the number of units rather than having amenities that are more closely aligned with a social service agency than housing. The actual middle class is paying for amenities,… Read more »
“costs more to build than first-rate condos sold for a profit.” If the funding sources identified in the article represent the total cost of construction and land, the cost is $220K/unit, which is less than condos listed in the area on Zillow.
Elizabeth Warren come on down.
Discrimination 101.
Nothing in the article indicates that they will allow only “Native Americans” to live there, nor even that they’ll get priority.
Illegal.