-- 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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News flash: Main causes of urban decay in Illinois, is political corruption and political mismanagement. What if IL was #48 instead of #51 in fiscal condition (maybe more $ for parks, etc?) What if IL was not #1-3 in political corrption (maybe a few more dollars of services versus payola?). What if IL was not #1-3 in overall tax burden (maybe a few more jobs for citizens). What if like greater than ie 20% of kids from poor families could read and do math at grade level (maybe more college bound?) What if crime was not rampant (maybe go to… Read more »
REALITY CHECK: Try Blaming Population Loss On Chicago Democrats — For Their Failed Schools, High Crime, And Predatory/Regressive Traffic Camera Rackets
Well I bet the simple answer to why there is “urban decay” is, now you get 3 guesses, the first two don’t count.
One thing that is a factor is the loss of industrial and warehousing and manufacturing jobs. Yes, people have left the south and west side communities because of crime, poor schools, inadequate government services, corrupt and insensitive government, and a culture where it is deemed by many not to be productive to raise children. But the loss of industrial jobs has to be significant. I worked in a warehouse on the north side during summers in the 70’s. Easily 100 good paying union jobs, and one didn’t need anything more than a strong work ethic and a very modest education.… Read more »
Deindustrialization was a canard. It is the direct result of federal policy and neither Democrats or Republicans gave a rat’s a** about the millions of working people in America promising the illusion of a service economy instead. 40 years of paper wealth is about to go up in flames and now, as Warren Buffet once said, “We will see who is swimming naked”. All those Libs that claim to care about the working man – liars. Remember John McStain saying “Those jobs arent coming back” – just a banker’s shill paid to lie. We were sold out.
This is certainly one contributing factor. Globalization combined with a lax immigration policy was awful for the native working class, especially those at or near the bottom of the economic ladder, who quite frankly, now barely participate in the economy outside of government benefits, and perform service jobs cannot or soon will be automated. Both my grandfather and great-grandfather worked at a Chicago union factory owned by a multinational was intentionally closed and shipped overseas so long ago that I can’t even find reference to it on the internet. It’s been great for the upper-middle class though.
I see where you are going with your comment, but the correct way to look at this situation, although cannot be said in polite company, is that our educational system, and lack of parental/community involvement, fails to produce citizens who can meaningfully contribute, or even survive, in a modern sophisticated economy. Our modern economy and society is far more advanced than anything that has ever existed anywhere on the planet. It would be unthikable to my agrarian subsistence farmer ancestors, farming carrots and pototes on some homestead up north or west, that they would have: Credit Scores, payments due every… Read more »