-- 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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While we can often agree that Warren’s ideas certainly seem off the wall at the same time we have to recognize that she has a lot of people that are and will vote for her…that’s how bad, like it or not. things have become.
It is not often that I agree with the sentiments that are usually expressed on this site, but I think we agree that Warren is a joke. Even if her wealth tax is found to be constitutional by the current US Supreme Court (highly unlikely based on an 1895 ruling), it would very optimistically raise $275 billion per year. Medicare for all, by itself, has been estimated to cost $3.4 trillion per year by a center-left think tank. Add in free college, student loan forgiveness, the “green” part of the green new deal, increases in Social Security benefits – all… Read more »
Even a blind squirrel finds a nut once in a while.
Lightfoot should double property taxes then simply say it’s for the schools. this ponzi can’t end until homeowners begin to realize they are ponzi’s. If residents are all for school spending they should be happy paying up.
Rep. Jan is an idiot, never turns down an opportunity to create a narrative even if it is completely devoid of facts. The goofs in her district reflexively vote D every time, every election, because they’re idiots. Those folks who vote for her don’t deserve democracy, I mean, really, they don’t. And considering that she’s 75, well past retirement age, and has been employed ‘allegedly’ representing my district’s interests for 20 years only proves my point that it’s not really democracy, it’s a Democratic fiefdom, and she will appoint her heir, who will be elected and remain in office for… Read more »