-- 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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She deals with symptoms of most all problems and not the cause, because she has no idea what she is talking about.
Not mentioned in the article is very few people want to give up a sub 3% mortgage in exchange for a 6.5-7% one. People are holding on to their homes until interest rates come down. So in the meantime the lack of houses on the market is driving up prices.
Kamala wants to help with the housing crisis by subsidizing demand when it’s a supply problem, which needs to be dealt with at the state and local level. Her program will do more to drive up the price of housing and not do anything to increase the supply of housing.
Perhaps Kamala should drop out of the race.
“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.”
— Stephen Hawking
One definition of insanity is doing the same thing over and over again and expecting a different result. Harris’ plan is just a redo of free government checks and the paycheck protection program under Biden/Harris. That has given us about 20% inflation in the last three years. At some point (but probably not) Democrats have to realize the solution to all problems does not involve throwing massive amounts of taxpayer money at a problem
The paycheck protection program started under Trump.