-- 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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And happy to take the loss and get out of town.
How many more properties is this going to happen to? With interest rates where they are and loans expiring, it’s going to be interesting, especially as Streeterville says about reassessments. Will homeowners have to make up the difference?
Can’t wait for the obiden ‘Reign of Terror to be over……maybe things will be a little better…..to many people have been hurt by this guy’s doings!
Prices will plunge further with horrendous democrats running the city into the ground
Will Kaegi take note when reassessments occur for commercial and high-rise residential properties?