-- 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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Well now Putzger and Pinhead it looks like you got a problem on your hands. They want rent free living in a privately owned building. How you going to handle this ?
So the tenants want the buildings fixed up but don’t want to help pay for the improvements? Some have lived there for 30-40 years and haven’t moved up and out, just stayed put while the buildings declined under the old ownership? And some are not even legal US residents? Someone needs to tell them there are countless places to live in the USA where they can make more money and thus have a higher standard of living. They might consider pursuing the American Dream instead of living out their lives in semi-squalor, while blaming someone else for their surroundings.
Landlords sell the buildings and let someone else take the losses.
And true to form, the immigration status of the downtrodden is conveniently left unsaid. Has it occurred to anyone that 10-20M fewer people that shouldn’t be living in this country would make a huge impact upon everything from housing availability to social services to the job market? Rents are high all over due to higher property taxes, higher insurance premiums and increased risk of damage to properties. The landlords aren’t going to eat those costs.
“Illegal aliens want to live rent free.” There, I fixed the headline.