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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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So, like climate, tastes change – it is the inexorable march of life… The two-flat had a time – it had a purpose – now, tastes have changed. If there is anything we should be nostalgically missing it is the values and standards and expectations that were common in our society and in our assimilation into our “communities”. Ditto affordable housing – markets do what markets do – none of us is entitled to anything other than our own pursuit of happiness based on those attributes that are God given and those that we can control – effort, integrity, sacrifice,… Read more »
A city that doesn’t constantly destruct and construct will die. They should be happy the area is vibrant and people are investing at all in their real estate, regardless if a two flat becomes a two story single family home. Sheesh.
“Now you go through Lincoln Park and it looks like the suburbs,”
Uh, no it doesn’t not at all. Lamenting the loss of 2 flats doesn’t mean it’s turning into the suburbs. There are mid and high rise condo buildings all over lincoln park. I don’t know of any suburb that looks like that.