-- 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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What would Milton Friedman think?
Of course the wokesters running UIC will be more than happy to see the errors of their way and pay up. Additionally they will self-humiliate themselves for their sins. Not!
Fixed the headline for you:
“Once Upon A Time, University Of Chicago Educated The Best And Brightest — Today, U Of C Churns Out Miseducated, Unemployable, WokeTards — U Of C Student Morons Demand That The School Pay $1B For Slavery Reparations”
You’re Welcome!
Remove UofC from Hyde Park and you’d have a nuclear landscape. The university is the only thing that kept that neighborhood from becoming West Garfield Park and Englewood 2.0 decades ago.
OTOH, anything that makes Hyde Park liberals uncomfortable is fun.
The should talk to Brandon about reparations. He’s supporting Black History Month by giving out free crack pipes!
That’s nothing, next he’ll be giving out free crack.
He’s got the connections to crack through his loving son.
Not that I advocate for U of C…. But, did they use eminent domain? Illegally discriminate in some way? Outright steal?
WeLL, in the absence if those, they l8ely exercised their free market right to, you know, buy land available for sale to support their business…. It’s called free market economy – maybe if you prioritized learning and education you would understand and have bought that land to sell to U of C.
Maybe if they had been paying real estate taxes over the decades I would agree with you.
So, while I agree with the idea that there is an argument requiring some kind of quid pro quo for tax exemption, my thesis is, even with a spelling error or two, irrefutable. The university owes no resident for gentrification that may have happened as the area became more desirable and safer and nicer, etc. ad inifinitum.
The shakedown season traditionally starts on Valentine’s Day. Considering how many shtbgs came from UC, it’s delicious!
““UChicago has a history of gentrifying the surrounding South Side area from Hyde Park to Woodlawn, all the way over to Washington Park and displacing long-term residents.”
I stopped reading the article about this time because the people today who are complaining that long term residents were displaced are the same people in the 1950’s and 1960’s displaced the previous generation of long term residents. Displacement goes both ways, folks.
They lost me at Washington Park. I’d wager at least one-third of lots in that neighborhood are vacant. 56th and Lafayette in not exactly mansion row.