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In Chicago, large numbers of low-income African-Americans have left the city’s South and West sides. “There are fewer options and fewer supports for low-income folks to handle the costs of living and housing costs,” says Alden Loury of the Metropolitan Planning Council. One of the more common destinations for those moving out of Chicago is northwest Indiana, just across the state border, where housing, taxes and other expenses are significantly less.
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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