The people running states like New Jersey and cities like Chicago know they’re broke. Ridiculously generous public employee pensions – concocted by elected officials and union leaders who had to have understood that they were writing checks their taxpayers couldn’t cover – are bleeding them dry, with no political solution in sight.
They also know that they have only two possible outs: bankruptcy, or some form of federal bailout. Since the former means a disgraceful end to local political careers while the latter requires some kind of massive crisis to push Washington into a place where a multi-trillion dollar state/city bailout is the least bad option, it’s safe to assume that mayors and governors – along with public sector union leaders – have been hoping for such a crisis to save their bacon.
And this year they got their wish. The country is on lockdown, unemployment is skyrocketing and mayors and governors now have a plausible way to rebrand their criminal mismanagement as a “natural disaster” deserving of outside help.
Here, for instance, is an estimate of how high unemployment will spike for various states. Note that overall it’s brutal, but the distribution isn’t what you might expect:
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
7 comments:
It's a shame our country is so divided people insinuate that the opposite political party is rooting for pandemics.
And just wait for the 2.8 billion tax hike hits Maryland, if you think the state and you yourself is broke now, you haven't see jack yet!!!!
Like I told you morns about Berlin, stand up and fight or they will keep taking!!!! Guess what they are still taking and keep taking and raising taxes left and right, even after the rainy day fun is filled... But you all know it all right??? You can just move right??? As if taxes won't follow you., as if someone who runs BERLIN can't come to your new area and mess it up... Look at VA, they thought this crap they have now would never happen... Soon they will have worse gun laws than NAZI MD...
The govt is showing you how stupid they think you are, by doing all of this, and while you let them, and do what they say, like with these illegal governor stay at home orders, you show them they are right, that you are really stupid and need them in your life to yell at you to breathe every second of the day or you will stop breathing on your own, becasue you are to stupid to know how to breathe on your own...
A Democrat led congress will attempt to bail out these state governments to offset the trillions that they have collectively pissed away on Democrat agendas. Thankfully, there are the senate and President to filter baloney coming from the House of Representatives.
This is wrong!! Damn Democrats.
I am not claiming to be too bright here.The way I see it is the tax paying citizens has already kicked in to pay for their states needs. The elite leaders spent those funds and more. It is called “budget”, don’t waste what you are given. These turds love to spend OPM. Now they want the tax payers country wide to pull them out of their rut. The answer to them should be a simple “no thank you”. Remember Mr. Leader, “wants and needs”.
Uhhh, what rock have you been living under? The "other" party you're referring to has PUBLICLY said verbatim "This is a great opportunity to move our visions forward" HOW MUCH CLEARER COULD THEY BE?
If this happens all Politians should have to take an 80% pay cut, no pension and no tax payer benefits until all loans are paid off. This includes Congress in DC, since they allowed this. The politians will have to reorganize all the worker pensions and benefits the Unions have forced on them. Unions should also be held responsible.
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