-- 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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No rent for a couple of years plus free legal assistance when eviction time rolls around. Most landlords probably have to settle for tenants moving out with no eviction judgment on the tenants’ records. It didn’t take a law degree in 2020 to figure out how to game this system. Haven’t seen data but I would expect to find $ millions of wasted taxpayer money and hundreds of landlords who either lost their property or spent their savings to keep their own taxes and other expenses up-to-date. I have to think the governor is not so dumb as to be… Read more »
What did they do with the money!
Was there a decrease in liquor sales? Cigarette/cigar sales? Marijuana sales? Lottery sales? Gambling revenues?
If not, we may have a good idea where the FREE money went.
The eviction moratorium was a violation of building owners’ rights. You don’t pay/you move away.
So the $150 million in free rent wasn’t enough? Now we need more help from Uncle Sam? Here’s another thought. Let’s make sure every capable body in a household is working before we give more taxpayer funds away to pay their rent. You remember the taxpayer don’t you? The taxpayer is the one on the hook for all the free bags of money that you spend so happily.