-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Other than rising property taxes rising how many landlords refinanced their mortgage with historic low interest rates so some costs are lower? Seems like if you tried to evict a tenant during Covid they would immediately get the virus once they stepped out the front door. One reason for rising rents is non payment from previous tenants due to that they could not be evicted. New tenants are paying a higher price because landlords are try to make up the difference from losses. Some landlords are just riding the wave because everyone else is raising so why not.