-- 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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Just listen to the radio or TV these days, it’s all commercials for subprime mortgages, I heard one yesterday in a tone that, “not everyone can be perfect with a 780 credit score especially when life gets you down” or something along those lines. I personally know quite a people who are trying to buy homes and they have NO business buying homes with their bad credit, Biden Bux down payments, and lack of financial common sense. They are the FOMO crowd (fear of missing out) that are the first to overpay and also the first to go into foreclosure… Read more »