-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I have found that by not paying any of my bills that my household budget has a big surplus at the end of the month. I may buy a new car!
You just described what 40,000,000 households did while student loan payments were suspended during coronavirus.
That’s also known as the Brando Maneuver. You can do it, but it tends to mess up your credit rating. Just ask Brando!
As crazy as it sounds, neither Trump nor Biden reported student loans to credit reports from March 2020 until the present, and IIRC credit reporting for student loans doesn’t resume again until October of this year.
Will Pritzker tell the truth about the budget like Newsom and say the deficit is far worse than expected or lie like usual?
https://www.yahoo.com/news/california-budget-deficit-worse-anticipated-222103715.html
It’s JB, so naturally it’s a lie.
The Tribune is now taking the education crisis to heart as it seeks to educate us all on some important issues. For one we learn that the money spent on the migrants is an “investment” which is probably news to many of us. Additionally we learn that Illinois’ migrant situation is “politicians using migrants to “distress a situation” and my guess is many did not know the situation caused by the Illinois politicians by deeming Illinois a “Sanctuary State” was actually a “distress.” We also learn the Governor is apparently math challenged as his budget projection was 220 million for… Read more »
My guess is that the budget deficit will be triple this by the end of the fiscal year. The economy is deteriorating.
Bidenomics and Pritzkernomics is crushing the middle class, people having to pull back, Fortune 50 projecting flat to down year, forced retirements and layoffs.
Perhaps that is to goal to crush the middle into the ranks of the free stuff army making the majority dependent upon the Government and exist within a low standard of living. The same system worked within the Soviet Union for decades.