-- 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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And these new homes will be turned into slum buildings in a matter of a few years. No responsibility of ownership, no pride, no concern for appearances because the residents expect, no demand, that somebody take care of the lawn, pick up trash, do minor repairs etc. There was a program called U235 housing years ago and those homes were pretty much destroyed with 10yrs. The above responsibility reasons to blame. Repeat a failure, waste money and get the same results, government in action.
Yeah, I don’t get this either. The Chicago pols are betting Woodlawn will be an up and coming area, but on what the heck are they basing this premise? Is this just another example of mismanagement of funds?
See Cabrini Green….
Nothing in this story adds up.