-- 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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Illinois Democrats Want Taxpayers To Subsidize Student Loan Deadbeats
I’m rubbing my hands together in glee as I dream about my money that I pay in taxes will pay off the student debt of a 5 year college grad with a degree in poetry appreciation.
And the hits just keep coming from these idiots.
The rich are going to need to hire extra accountants just to keep track of all the tax cuts the Democrats are giving them. I hope they can deduct the accountants salaries
I don’t understand why students are getting loan forgiveness? As PPF repeatedly says a contract is a contract. When students first took out the loan all the terms were spelled out completely. How much payments are per month-how much is interest and principal per month. When the first payment is due and so forth. All the terms of the contract are spelled out before they sign not after. They then signed the “Contract” from lender to borrower. Simple. We do it all the time when when finance an auto/mortgage/large ticket item/etc. So why should they get “Forgiveness” unless there was… Read more »
Spot on Fred. I feel like a fool for actually paying my student loan back. It took me 9 years of sacrifice.
I would have spent more time chasing skirts and drinking premium beer if I gad known this was gonna happen.
Where can I get some help?
Old Joe, you’re going to need a young Joe with six figures in student loan debt to 1. work to pay into social security; and 2. buy your house from you when you get older. A generation of dopes collectively with trillions (including interest) in student loan debt isn’t good for society. Yes they’re all democrats and they deserve what they get but it’s not a good long term policy. It would be better to lower the price of college.
Agreed Freddy. People took out these loans and they need to honor their contract.
Not with progressive in charge they don’t!
There you go again – trying to apply common law and common sense to the political actions of Democrats.
This is why the ‘Pandemic Emergency’ will never end unless Congress ends it.