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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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The source report appears to be here. “Funding for the 2023 CPOST/NORC surveys and analysis was provided by the University of Chicago, the Pritzker Military Foundation on behalf of the Pritzker Military Museum & Library, William Obenshain, Fouad ElNaggar, the Hopewell Fund, the Anti-Defamation League, and contributions from the CPOST board of advisors and other individuals.”
Why are these people so hateful towards Trump? The cost of living was certainly much better when Trump was in, we were not involved in this expensive inflationary spending foreign war, the economy was great sans the pandemic silliness so why do they hate him?
The latest inflation report figure released just last week showed a ttm CPI of 2.1% for the Chicago metropolitan area. Now, what does that do to your argument? It destroys it!
LOL, first of all, that’s 2.1% YOY, so the previous inflation in the past two years is baked into the cake; and second, do you really believe that inflation is 2.1%? Most economists don’t seem to believe that. If you read between the lines, even the Fed doesn’t believe Biden’s CPI, which is why they keep raising rates despite the supposedly falling rate. And just anecdotally, every six months or so I buy a large container of imported olive oil. It used to be $34. Yesterday I went to buy one and it was $50! I know that’s just food… Read more »
There are different ways inflation is measured, some short term and some longer term. This one at least covered the most recent 12-month period. The fed does look at other measures as well the reported CPI. Your mention as to one item having a ridiculous price rise is taken in good faith, but all commodities are subject to market forces as well as supply and demand issues. So, the item you mentioned is an outlier when compared to overall price changes over the last year. Beyond that almost ever person you encounter weighs forth on the inflationary rate despite governmental… Read more »
Apparently your most important point about the full effect of 2 years of inflation was too hard to grasp. We have, however, been fully informed about the Dunning-Krueger effect.
This is what you get after Democrats have made once respected news outlets into partisan and hateful fake news fraud sewers