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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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Turn the office buildings into weed farms.
One of those plans turned State street into a mall, look how that worked out. Just let the free market decide the best development for the city.
Ghetto
I expect to see a fair amount of section 8 housing in the Loop, and all that goes with that.
Downtown Chicago in 20 years will look like the movie Escape from New York.
Anything from a Charlton Heston Movie. But it won’t just be Chicago but most democratic run cities. Look at Portland or Baltimore. Maybe buildings downtown should sacrifice a lamb and paint a red X over the doorway like in the movie The Ten Commandments which now are merely suggestions. The events that going on in the world suggests WWIII is just around the corner. Now Sudan is going nuts and China will try to takeover Taiwan and North Korea can’t wait to drop a nuke or some missiles somewhere and the Mideast is a powder keg. When George Santos tells… Read more »
My wife’s Fed agency deliberately schedules as many of their Baltimore-located national training center meetings for winter months as they can manage.
They admit that it’s not safe to walk those downtown tourist areas in the summer when the kids take over.
That’s exactly what Chicago’s become.
RoboCop? The Purge? Soylent Green?
All three!
Detroit
In the list of causes for empty retail and office space, crime is not mentioned. They could hardly bring themselves to even say “civic unrest”.
They would have to acknowledge the out of control 13% demographic.