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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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BJ should study history to get a better idea of what works and what doesn’t before trying to move forward with such hare-brained schemes as the mansion tax.
Current wording in headline: “Chicago student homelessness is rising. Could a tax change backed by the mayor help fix that?”
Recommended change for more informative wording: “Chicago student homelessness is rising. Could a tax increase backed by the mayor help fix that?”
Yes, as we all know, tax increases fix everything.
Is Chicago already a larger version of Detroit? If not, it’s well on the way.
I read a ton and am still completely confused about all the funding sources for homeless (however defined) present or future: The CTU/Brandon administration is pushing for: BCH transfer tax referendum ($100 mil a yr??) & $1.25 bil borrowing/bond against existing prop taxes currently dedicated to TIFs. Neither of the schemes have any taxpayer legal assurances the tax revenues will be spent directly on homeless?, homeless services? or other? CTU/Brandon has made statements that “future” ordinances will be passed once BCH or $1.25 bil bond are passed with rules on how & whom tax revenues will be spent? (what a… Read more »
Where’s Mine ???, it’s called “The Homeless – Industrial Complex”, google and you’ll find much about it… ***vast*** sums are up for grabs, and it’s a sweet deal for those who profit… It’s well – established even up here in Evanston, with the grifting “non – profit” outfit Connections for the Homeless… they get millions and millions, and they beg for ever – more funding… Here’s the latest: Connections got a big honkin’ grant to provide rental assistance to an extra *16″ families, yet out of that $810K, $231K is going for “program costs” (two new staff @ $75K each,… Read more »
Another program destined to fail. Whatever stipends come out of the program aren’t likely to end up in the right hands, and the number of families that need housing has increased exponentially due to the sanctuary state mess created by Pritzker and supported by BJ. It’s a hot mess created by the decades long reign of incompetence brought to you by the Democrats.
Looks like the CTU army is at work downvoting here at Wirepoints.
ABSOLUTELY, the CTU wants to grow by requiring the schools to supply student housing with CTU Union members.
Student housing is NOT a CPS problem. (or a library problem) 😉
The CTU can kiss my a.. on state & Madison at high noon!
yes