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Legislation introduced last week would not only break the statewide ban on rent control but carve Illinois into six rent control regions, each with an elected seven-member board.
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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Wow. The idiocy is going 100 mph now. I don’t even know where to start, with this one. But, I will say that it is the definition of “utter stupidity” to complain about rising rents while not acknowledging that a big portion of those rises are…property taxes! Then, they say that the “Rent Control Board Fee” is “ok” to be passed on to renters. Well, thank you very much! Even if you are an absolutely ignorant economic dolt and don’t understand the harm this does to ALL parties involved, does anyone on the left have ANY respect for property rights… Read more »