With $36 trillion in debts, along with massive Social Security and Medicare debts, our nation needs to watch its spending – Wirepoints on Chicago Tonight

Ted joined Chicago Tonight to talk about President Trump’s dismantling of USAID and what it means for Illinois. Ted argued that with the nation facing trillions in debts, it’s essential to know just what the government is spending taxpayer money on. Trump’s rapid actions on USAID shows what needs to happen in Illinois, because right now there is an entrenched bureaucracy of lawmakers, administrators and unions that will never audit itself without outside pressure.

 

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Bosco
1 year ago

It isn’t time to watch the spending. It is time to reduce it!

Old Joe
1 year ago

Save your dollar bills. Soon it’ll be cheaper to wipe your dupa with them than buy TP!

MJL
1 year ago

What no one seems to be talking about is the competition federal government as well as state and local entities’ borrowing represent to the overall market. That competition coupled with a depreciating currency, itself a product at least in part from deficit spending, means that higher interest rates will prevail. Home mortgages, personal financing, and business borrowing will all cost more. We’ve seen what has happened to sales of existing homes. New product development will cost more for that reason and for the mandates imposed on developers. Looking down the road one doesn’t see a pretty picture.

Ex Illini
1 year ago

This is just the tip of the iceberg. The level of inefficiency and fraud is mind blowing. Trump and Musk should trust no one. They are challenging the status quo of institutional greed and malfeasance.

JackBolly
1 year ago

DOGE will audit SS – expect to find just like with Treasury payments going to inappropriate ‘people’, such as illegal aliens who have never paid a thin dime of payroll tax.

FJB & Fauci too
1 year ago
Reply to  JackBolly

They already found a large number of people in SS database who were born in 1870. That would make them 155 years old. If they are from Chicago I’m sure they vote.

taxpayer
1 year ago

Apparently Social Security Administration never checks for duplicate numbers. Undocumented folks might use numbers of deceased persons. Mary Pat Campbell explains.

Last edited 1 year ago by taxpayer
debtsor
1 year ago
Reply to  taxpayer

Once a upon a time I had a document come across my desk that showed 4 illegal immigrants using the same SSN number for employment around the country. The SSN was for a natural born citizen – a minor – whose family had been here at least before January 1, 1808, but apparently some coyote was selling the same SSN to various different people. I was shocked to see this. It is basically a state protected secret that this happens. The IRS doesn’t even have to tell you that someone else is using your SSN unless they try to steal… Read more »

Fed up neighbor
1 year ago
Reply to  debtsor

Every fat cat politician needs to be held accountable and imprisoned.

Your dime, your dance floor
1 year ago

How many people did they find that were born in 1870. I don’t doubt for a second there are people on SS who shouldn’t be. After all, about 60 million Americans collect SS every month. But I’m curious how large the number is for people born in 1870.

Tom Ryder
1 year ago

Fat cats keep getting fatter. People are voting with their feet and moving out of Illinois hence our government is desperately spending our money like Hunter Biden going on a bender.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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