-- 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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And when the Federal Dollars Dry up then WHAT
A record number of Americans have fled to MX this year. They have nice beaches for folks with $$$. MX also doesn’t try to destroy it’s carbon fuels energy sector.
Here comes the “My guaranteed income dollar doesn’t go as far as it used to” complaints in 3,2,1…
IL needs to amend the state constitution to have automatic three percent increases compounded annually for this income. Wait, inflation was almost double digits this year. Better make those automatic increases five percent or the inflation rate, whatever is higher. Oh, then write in the state constitution that these increases can never be diminished. As CSN&Y sang, Everybody I Love You. I wonder if they meant to include people who are too lazy to work for a living who leech off the taxpayer?
Welfare is how Democrats have degraded and destroyed Black communities — this is just more of the same.
They used to indict crooked politicians that abused federal funding in this manner. I wonder what ever happened to that practice?
Inflation is never going to abate…never.
All those Yellen & Powell Bux are getting their wings as housing prices crash, lenders repo cars, borrowers default on credit cards and the stonk/crypto markets tank. All of these are deflationary. Inflation will come back down. If we enter into a depression, like some important people seem to think (Ark Invest’s Cathie Wood likens our situation to 1929), we might even get some transitory deflation.
The operative word is transitory. I expect the dollar to be inflated into scrap paper before I’m called home.
I need to be rescued in Bowmanville.