-- 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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No one is forcing you to live somewhere.
If you cannot afford the rent then move along. This rent control is a communist Way of controlling the masses.
Hmmmm. I wonder if you would say the same thing to all the people on this site that complain about their property taxes? “If you cannot afford your taxes then move along. No one is forcing you to live here.” Yeah, I don’t think that would go over so well.
Scraping the bottom of the barrel for this one. Rent = Taxes to pay pensions to public workers?
Taxes are to pay for services. Police, fire, park district, teachers, snow removal, etc… Pensions happened to be the costs of the associated labor. If taxes are too high you are free to move. No one is forcing you to live here.
For what it’s worth, I’m definitely not in support of rent control but I just found it interesting that if people are struggling to pay rent we say “eff em” but if people can’t pay property taxes it’s a travesty. I guess it all depends on who you deem is worthy.
We’ve seen this with Prop 13 in California which is basically rent control for homeowners