-- 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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Chicago’s usual approach to affordable housing is to export their dysfunctional population to other communities. When the high rises were closed, that’s exactly what they did, sending the poor to Rockford, Peoria, and even out of state.
All of these proposals are fake. Behind them are political hacks lined up to cash in on one tax-paid boondoggle after another. It’s the Chicago way.
I’m not a progressive so I don’t understand why anyone has a ‘right’ to rent in an area they can’t afford.