-- 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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Let’s make sure that every Dem that voted for this has all the rental properties in their neighborhoods listed and disseminated to all the voucher recipients.
Decades ago, a townhouse development called pacesetter on the Chicago/Riverdale border was destroyed by Section 8 housing. Designed as a retirement community, the S8 vouchers paid more than the modest rent the seniors were charged and it devolved into a crime ridden and congested dangerous mess.
Take a good look at Section Eight housing before the underserved move in and after they leave and then tell us why landlords are hesitant to let them move in. I recently had the misfortune to live near two apartments housing such people: unattended children, people braking the security door to come and go all hours of the night, loud parties and fighting at 3 am were just part of the “ rich, diverse “ tapestry they brought with them.
It’s the magic dirt theory. When section 8 people are concentrated on bad dirt, the schools become bad, the community goes downhill and crime increase. Because the dirt underneath these Section 8 buildings is not magical. But when Section 8 is moved to Glencoe, Evanston, Hinsdale and Orland, those are places with Magical Dirt. The Section 8 recipient becomes blessed by the magical aura that emanates from the magical dirt in places like Glencoe and Hinsdale. That’s why our state politicians want Section 8 in the nicest, most expensive areas of Illinois.
These laws are a joke. They are shakedowns. Nobody wants Section 8 tenants. Keep in mind that if you property is NOT Section 8 approved, you MUST apply to have it Section 8 approved, which can take WEEKS or MONTHS, and you as the landlord must EAT the cost of the vacant unit while the Section 8 process continues. And if you turn down the Section 8 tenant for a non-Section 8 tenant, you get sued like this, which means that Section 8 tenants, for all practical purposes, have first rights to ANY rental property throughout the state.