-- 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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Total waste of time to apply for aid. However I knew someone that received aid and he made more than me and had more saved up so I figured I might receive aid. Nope, nothing other than basically telling me all the loans I could get. When I had two kids in college I thought my chances would be better, nope. My guess is the person that got aid lied/cheated on his application, not something I would do. I find it strange that there’s companies that “help” you apply for aid. I think the whole thing is a scam designed… Read more »
The four year educational system is the only system in America that requires families to take on intergenerational debt: parents and grandparents sign or co-sign loans for students, who in turn, co-sign or sign student loan debt for their own children. The FAFSA application itself requires a ‘parental’ contribution where parents are required, by law, to take on debt (or pay outright) for the education of their grown adult children. We don’t do this for car loans, or mortgages, or business debt or credit cards. Only for student loans. Obviously, this system is now falling apart. Fewer students are even… Read more »
“High school counselors and college planners say there is some reason to believe COVID-19 is forcing students to consider alternatives to college.”
No, no. Kids are finally realizing that making themselves debt slaves to the leftist higher educational complex is detrimental to future and financial well-being. This is great news for America. The beast is not being fed.
debt and wage slaves indeed. It’s the same when you own a home in Illinois. Gotta pay that real estate tax and mortgage. I know someone in HR at a big company and she says that college educated home owners are the best to hire because of the debt.