-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Rent is rising due to inflation, illegal immigration, and, because of artificial demand. Many, many deadbeat renters were …ahem…asked to leave their current apartments after the covid moratoriums ended, and it became a game of musical chairs for new apartments. The surge in demand landlords are seeing are simply rearranging the deck chairs on the Titanic, and it works it way up from the cheapest rentals on up.
Agree- there is cash supporting the illegal immigration game here. Headquarters are leaving. Stores are closing. The census shows people moving out yet rents are going up? The only thing that brought people to live in Chicago was the late night flights from the border.
Inflation is part of it yes. Actually this about getting the wagey back in the cagey. The wage cage keeps everything running. The wage cage keeps people from having the time to protest the government or even open their eyes to see what the hell is going on. Wagies to the cagies!
Just hold on Chicago renters. I expect in the near future rental prices will sink below Detroit levels.
Don’t like renting? Move to Detroit where you could buy a house at one time for a dollar.