-- 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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Of the dim bulbs that Illinois sent to Washington, Mike Quigley isn’t the dimmest, but he’s close. That honor goes to noted Climate Cleric Sean Kasten, who never met a Pro-China/anti-USA policy position he didn’t embrace. Quigley embraces the Democrat Doctrine of limitless government power and spending and America’s laughable debt ceiling stand is his way. A debt ceiling that isn’t much of a limit, since the limit is routinely raised ever closer to Weimar Republic levels. Soon, Americans will burn bundles of $20 bills to keep warm when energy prices are unaffordable due to the inflated dollar and the… Read more »
Yep, why can’t money be what ever we say it is…..
Get rid of the debt ceiling?!!
Are you a simpleton Quigley?!!
First how about we try to quit adding more to the national debt when things are going good. Pay down some of this debt so we don’t leave your kids and mine with a massive fiscal problem.
I’m actually willing to pay more in federal taxes but the $$ does not go to the US Treasury. It will go to a “lock” box which can ONLY be used to pay down the national debt.