-- 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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In other words, straight white (un-connected) males need not apply…
Johnson, like all Communists, is economically illiterate. Blank-check governance is how they feel accomplishment, regardless of the cause and effect destruction. I’ve told the story here before. Johnson speaking to Rainbow Push at their Saturday morning gathering, told the crowd that the hospitality industry tradition of tipping for meal service is a “vestige of slavery”. Johnsons NEVER earned a dime in his life that was based on his performance.
The Affordable Housing Tax Credit was a good idea– conceptually. Started in the early 1990’s to replace the Section 8 and HUD 236 programs. Then fast forward to the last twenty or thirty years– in Chicago, to get the credit, which was worthwhile economically as a developer, you had to hire: a consultant to tell you how to do the credits; a minority development partner; a monitor to make sure all your contractors and subs had enough real minority participation; a credit marketer to sell the credits for you; a connected City Hall attorney who could get the low income… Read more »
“heartbreaking and gut wrenching”?
Nice analysis Sparty.
More navel gazing pontificating by progressive left elites who don’t believe the world of supplying goods and services in a competitive economy (capitalism) is good enough for them. But instead want you to pay for their upper-income symbolic economy gigs in gov, universities, ngo’s, etc to sit around and tell you how to live your life….and they wounder why nobody loves them? At a minimum these folks are easily dismissed as goofs but in a Chicago teamed with machine self-serve EQUITY HUSTLE you can bet somebody maken $$$BIG$$$ bucks on Brando’s $800gs a unit affordable housing on the taxpayers dime,… Read more »
I get a kick out of hearing some on the left talking about their new “Abundance Economy” thing. Sure sounds like supply side economics to me, which is how many on the right have long labeled their agenda.
It’s a long article, and Wirepoints has extracted the part most relevant to Chicago, but I think the most important point for those on the left is “To overhaul the government so it can deliver what it promises would require Democrats to confront not just their enemies but also their friends.”
Wirepoints’ link points to a regwall, but it appears the same article is openly available here.
$1.1 million per unit – and he is bragging? Clue meter is reading zero.
Third grade IQ mayor Homie probably feels that the more one spends on each unit, the better it is. It certainly works out well for those involved in the DEI hustle.