The worst fear I have is that the property owners of the state will have to foot the bill that the corrupt politicians have incurred.
That could start a real revolution, and it’s scary.
They don’t care. Remember many of these folks at this late stage can barely perform basic arithmetic, thanks in large part to public pensionized teachers, but I digress. The ones that can keep their mouth shut.
Seriously they don’t care because lawmakers have also poisoned the well, state constitutions often require that these be paid regardless of solvency. The judiciary - whom also receive a state pension it should be noted - are not going to rule differently. “There is no money” will not be an adequate answer. Stealing from those who don’t have a pension is acceptable. Count on it. Remember the infrastructure and economy that existed when these arrangements were setup died and blew away a long, ling time ago.
The debt remains. The obligations remain. There is no way to pay for it. Another scheme that is used apart from confiscatory tax rates is the rise of “fees” and fines. Put your garbage can out on the wrong night? Ok buddy. That’ll be $150 .... pay up.
As a practical matter it always works the same. States cannot issue currency or print money, so they tax and tax and tax some more until even the guy living under the bridge thinks things are getting out of hand.
National governments on the other hand will print, lop of zeros, print, lop off zeros, etc, until the people are out flamingo rustling at the Zoo like down in Venezuela, which incidentally has the largest proven oil reserves on the planet. Still they can’t provide even the simplest, basic services or materials. This is of course, the Republicans fault.
Leftists, mostly responsible for this type of mess, myriad other fiscal disasters not to mention the death of countless millions over the years, successfully brand normal people as being “greedy”.
“The worst fear I have is that the property owners of the state will have to foot the bill that the corrupt politicians have incurred.”
a legit fear ... sadly enough you might want to consider beating the rush to move to a better managed state before a ginormous property tax or income tax increase sends real estate values into the basement ...