“Cook County’s Treasurer has created a website where citizens can find out how far in the hole their governments are. They are all so far in debt that future taxpayers will lose their homes, she says: ‘In May, 2012, the collective debt reported by the local primary taxing agencies in Cook County was more than $140 billion! To put that in context, the total debt-per-household in the City of Chicago was $87,720, and $35,774 in the suburbs. Homeowners might be able to give their homes to their children, but that future generation won’t be able to afford to keep them because of the property taxes, which have doubled over a 10-year period.'”
http://teapartyeconomist.com/2013/01/30/why-your-town-is-going-broke/
Related posts:
Why Bitcoin Is Back From The Dead And Surging To All-Time Highs
GAO Study Confirms the Obvious: Bad Patents Lead to Trolls
Fracking settlement puts permanent gag order on 7-year-old and 10-year-old
MIT creates the first perfect mirror
Justice Scalia Thinks US Concentration Camps 'Will Happen Again'
Romney on drones: ‘Use any and all means necessary to take out’ enemies
The Next, Great Investment Wave is Happening Here
Infuriated Taxpayers Berate School Superintendent for $663,365 Salary
Young Woman Arrested For Nothing, Caught On Video
FBI Software For Analyzing Fingerprints Contains Russian-Made Code
Newtown approves gun ordinance restricting recreational shooting
Trump and Putin: Big War or Little Deal?
Texas Game Wardens Prepare for War
Company develops new fiber-reinforced wood, concrete ink for 3D printing
More Bad Consequences from Obamacare