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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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Lori says the city is safe! Hmmm……if the city is so safe why is it empty?
A once vibrant downtown turned into a jungle in a matter of a few years. Insanity.
West Detroit has arrived.
“Breathe life”?
This City administration only breathes death into neighborhoods.
How many consultants can dance on the head of a pin?
Loop Is Still Deserted – Chicago Tribune — City’s Solution Is To Make Loop Cabrini Green 2.0 With Low Income Housing
I know what will increase Financial District foot traffic. A suburban commuter tax! Call it the “Fee for LaSalle Equity & Empowerment” aka the FLEE tax
“Whistling past the graveyard”, lol! A nonsensical puff piece – and who on earth would want to live in the gloomy and depressing Financial District in any case? Just turn it all into Section 8 housing and be done with it already…!!!
I’ve been in nearly every office building in the financial district throughout my career. There’s a handful of premiere spaces with great views but the vast majority of the office space is dark, windowless, or faces into an alley or another building, especially the lower floors. These people are out of their minds.
And turning any of those older office buildings into housing will be a Herculean task, plumbing them to current standards alone would cost a fortune…
Not if they turn them into SROs or tenement housing with shared bathrooms…
It’s only taxpayer money.
LaSalle Street is gloomy during the day, and now it’s forbidding at night.