-- 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.
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The money went to friends of the politicians, just a total waste of time and money.
Top down mandates are not the way to encourage affordable housing.
Targeted tax credits and regulatory incentives (not punishments) are the way to build affordable housing.
Once upon a time people were expected to house themselves. What changed?
Good question … a culture of dependency is my best guess.
Liberals want to keep us all ‘on the plantation.’
This plan came out a couple of months back, and I commented then that it is a big puff of smoke– election smoke for Lori. These affordable housing plans are insanely overpriced, larded up with union contracts and admin fees that no honest private sector developer would tolerate. If you run the simple math you are looking at $400k-$500k each for shoddy built two bedroom units. This historic roots of these silly plans go back to the CHA scattered site program run by Valeri Jarrett which was a years late grossly over budget fiasco. It really is quite a shame… Read more »