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“The cost of everything, property taxes, everything has gone so high they can’t afford to stay where they are, and they’re looking for options, and unfortunately, even the options may be out of their realm of financial feasibility," said Jennifer Snow with the Northwestern Illinois Area Agency on Aging.
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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The state of illinois is too busy spending billions on law suits against the federal government to keep illegals housed and fed as well as keeping their children in school. This isn’t a glamourous topic for Jumbo to waste his time on…
Since this lady and her boyfriend have no friends or family who are willing to help them, they should move far south now, to the Gulf of America coast. Then they won’t freeze to death and can live in a tent until their situation improves. I’m sure their Social Security checks will cover bus fare and a very nice tent, food, etc. They will just have to be a little creative.
No guaranteed income in her locale? Get on a bus and come to Cook County. Camp outside Taxwinkle’s door until you get that 1K/month from now through eternity.
Taxes add to the price of rent. But then again, the public sector needs large pensions at young ages. Rockford has some of the highest taxes in Illinois. Homeless people are in a bad place. The state of Illinois should help them.