-- 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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People who never owned slaves paying people who were never slaves. Smart
Here’s something to ponder.
If you could distribute all the wealth evenly among everyone in the U.S. how long would it take for those who had the greatest wealth to get it back? Most people will squander their new found wealth quickly. My guess is less than ten years.
Six months.
Does building a nail and wig salon in the home count as a home improvement? Having any restrictions on use is racist Ju Ju.
With these restrictions in place, the recipients are essentially chained to Evanston.
“Equity has not been enough” because nothing will ever be enough. There is no amount that will appease them, they must simply be defeated.
This is an easy problem to solve: Free Housing. Evanston can build public housing for residents to live in for free, for life, with the ability to pass that right on to heir.
They can line Sheridan Road with the largest public housing buildings. Heck, they can make public housing campuses. Right next to Northwestern too if they wanted. Do it evanston, put your money where your mouth is.
I expect it’s a situation of politics being the art of the possible. One has to get X votes to approve the amount and the expenditure and the budget category. Some who vote act in the interest of themselves and their “friends.” Those are a mix of economic and other NIMBY interests. RESULT: this convoluted give-away as a measure that will turn out in a few years to have been a waste of money. A current resident will get an inflated price for the “house” he’s trying to off-load, and the happy new occupant will be saddled with a mortgage… Read more »
An Update On Evanston’s Reparations Revenue Robbery Ripoff Racket — Forcing 2022 Taxpayers To Pay For Pre-1865 Slavery