What Did Walker Actually "Win"?

The Milwaukee County Board has invited Scott Walker to hang himself.

The Milwaukee County Board handed County Executive Scott Walker two victories today with multi-million-dollar, long-term implications.

The board authorized a $400 million, 30-year borrowing plan aimed at paying down and stabilizing the county's $700 million pension debt - a new version of an idea resisted by the board in previous years as too risky. The county hopes to save millions of dollars by borrowing the money at about 6% and investing it at 8%.

The JSOnline refers to this as a "win" for Walker.

It may be--assuming he can borrow at 6% and earn 8%. But "earning 8" these days is more than difficult.

And it may be possible for Milwaukee County to borrow at 6--but even the Elmbrook School District can't get better than 4.5% borrowing-rate these days. This should be, ah,.....interesting.