-- 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
Those living in Chicago less than 10 years are 13% more likely to leave than residents of other cities. Also 16% more likely than people here more than 10 years.
Sounds like those who came here believing the hype are becoming disillusioned with the reality.
Who’s staying according to the article?
Must be why the price of real estate continues to climb in Chicago. Even with all the sky is falling folks, Chicago continues to be a great place to live.
San Francisco has sky high housing costs as well. It’s such a great place to live that Walgreens pulled out of there in its entirety. The tent covered sidewalks lined with homeless and accentuated with feces and hypodermic needles is a nice touch. I’m sure housing is likewise costly for those in NYC that don’t get randomly pushed in front of a moving transit system train or stabbed by a roving gang of illegal immigrant teens. Yep, exorbitant housing prices are certainly the hallmark of a nice, clean and safe city.
Where did you read that Walgreens “pulled out of there in its entirety”? In February, they announced 12 stores (out of more than 40) would be closing there and it is part of their plan to close 1200 stores nationwide. Do you have some other source indicating differently or were you just purposely lying to try to make a point? Also, higher real estate cost is a good indicator as to how people place value on that area. That’s why Lincoln Park is more valuable than Englewood. So yes, high real estate prices indicate a high value area by definition.… Read more »
Democrat (read public union) run cities are the most desirable places to live, right? Seems like it’s really important for you to push that narrative. Can’t imagine why. Crime, filth in the streets? Nothing to see here folks, move on. Just keep paying those public union members, and especially their retired members.
Who’s staying? People seeking free housing and social services, trans activists, those seeking tax payer funded abortions ( travel, room and board expenses included), criminals insured of a free pass for their first dozen or so offenses and those forced to. Who’s leaving? Those that can and are tired of paying for it all.