-- 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 what causes rent to increase. Property taxes, maintenance, utilities, insurance, capital improvements, conforming to government regulations, tenants damaging property or not paying, etc. Not to mention the COVID-19 problem of tenants being able to live fo rent free. How about Will Guzzardi become a landlord and report back in 10 years about his utopia project. Since the population of Illinois is decreasing, there should be more rental supply. If being a landlord we’re so lucrative surely the rich politicians would all be in the landlord business. There is already Section 8 for low income tenants. And where is the… Read more »