Uh, no. YOU will be paying those pensions. Guaranteed. So will I, of course.
Uh, no. YOU will be paying those pensions. Guaranteed. So will I, of course.
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But I don’t live in Detroit, or even Michigan. So I have nothing to worry about.
Right?
Ultimately, no.
As has been pointed out since the 1970s, the wealth does not exist to pay all the pensions of all the people government was giving long term employment to.
Detroit and other big cities will crash first.
Then states like California and New York.
But it is all going to fall. Math has no mercy.
There is a very interesting article in the Wall Street Journal today (page A5). It says Kevyn Orr, the Detroit emergency manager, went to VALERIE JARRETT to ask for a government bailout, and was told no by Jarrett.
It really shines a light on who is making decisions in the White House.
Scary. Obama is a teleprompter reader and nothing more. An empty suit.