-- 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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Home prices just continue to grow in Illinois. Everyone is leaving but prices just keep going up.
Correct. It’s a supply issue. And those 500K illegals in Illinois are living somewhere.
So there isn’t enough supply? You would think with everyone leaving they would be selling their homes? Are the illegals buying them all up?
Don’t worry. As more and more tax paying citizens of Illinois leave for greener pastures outside Illinois, housing prices will drop.
That’s been the theory but it just hasn’t been happening.
The article gives no indication of why prices in Chicago seem to be rising much faster than elsewhere. Could it be because Chicago presents more barriers to maintenance and construction?