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Home Front: Politix |
This Is How A State Goes Bankrupt, Illinois Edition |
2020-10-25 |
![]() The beauty of the scheme flowed from its demographics: Most of the original public sector workers were young and therefore decades away from retirement, so the crime wouldn’t be discovered until long after the architects retired rich and revered. Now, however, those baby boomer workers are retiring and the scam is revealed for all to see. Even in the absence of a pandemic lockdown, mass defaults on state and city obligations would be inevitable in the coming decade. But with the lockdown, they’re coming next year. |
Posted by:Clem |
#3 Let that phat phuck billionaire Pritzker pitch in. |
Posted by: Clem 2020-10-25 08:12 |
#2 Since they figured out it's cheaper and easier to steal votes, this problem will go away now, right? /sarc |
Posted by: M. Murcek 2020-10-25 08:08 |
#1 A Democrat-led federal government will happily provide the trillions necessary to keep this from happening, while a Republican administration will dither for a while before caving. Either way, the original crime is swept under the rug and the financial pressure is socialized, with all US taxpayers on the hook for previously-local mistakes. So the difference in outcomes between a Dem solution and the Pub solution is essentially indiscernible. But you knew that. |
Posted by: Besoeker 2020-10-25 05:37 |