-- 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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Only a state run by imbeciles would consider giving a loan of any type with no cosigner and no background checks and no verification of any kind. Want to borrow more for your Social Justice degree from Northwestern? Have you run out of options to fund that gender studies degree from U of I? Go ahead and pile on that debt you could never repay out of future earnings. Just wait until JB the Hutt and his henchmen declare required student loan payments to be racist, sexist, homophobic or fattening. Then comes the money confiscated from taxpayers re-branded as ‘loan… Read more »
Oh my goodness, please do not get the State of Illinois into the Student Loan business with no cosigner and no back ground checks and no verification…good God. What a fiasco that would be and a complete drain on the Tax payer. Bad debt, graft, corruption…it would be a disaster.