“Fiscal conservatives have said for years that this was inevitable. We were dismissed as crackpots. The red ink could flow forever, we were told. ‘No problem!’ They say the same thing today about the federal government. The suckers line up for jobs with the federal government, with its fat pensions and unfunded liabilities. The result will be the same: default. Cities can do what individuals do: run up large bills, and then declare bankruptcy. The voters will shrug off 20,000 pensioners who lived in a fantasy world all their lives. They are no longer politically viable. They are merely a tiny voting bloc that has no money to give to campaigns.”
Related posts:
NH Representative Mark Warden Utilizing Bitcoin for Campaign Donations
Baltimore must return $2.8mn after audit finds faulty speed cameras
It’s official – Renouncing US citizenship saved our home
The Housing Bubble and the Limits of Human Knowledge
Gaza, "The World's Largest Concentration Camp"
Gold, Silver Product Demand Is 'Very Strong:' Royal Canadian Mint
Adam Kokesh Blog Statement On Arrest
'Most transparent administration' violates federal transparency laws
First Italy, Now Portuguese Banks "Unexpectedly" Need A Taxpayer Bailout
Great is the Guilt of an Unnecessary War - Vietnam Edition
New York: Facebook Can’t Challenge Demands for User Data, Or Gag Orders
US August Budget Deficit Soars To $192 Billion, $1.17 Trillion In Fiscal 2012
ACLU to Obama: No, You Can't Just Murder an American Overseas
The Horror Every Day: Police Brutality In Houston Goes Unpunished
CEO of Russian Sberbank ‘Endorses Virtual Currencies’