since they have no way of paying it back, there better be something!!! then again, the RATS look at bonds like gifts
Posted on 08/24/2016 9:22:31 PM PDT by Olog-hai
It also cursed the whole country with the Witch and Obola.
You call it "fake," others call it "kicking the can down the road."
Then in 10, 15 years or more, they'll re-visit their balances and say, "gee, our returns were less than previous (Democrat) administrations expected!"
And then they'll re-project another period of fake returns.
Looks like the can kicking is coming to an end and the day of reckoning is just about on us.
It will be fine - until it isn’t. And then it won’t be, as in, in a matter of minutes, credit and debit cards will be worthless. Everywhere.
Got cash?
As they continue to kick the can down the road, the excuses become more and more ludicrous until enough people don’t buy it, and critical mass is achieved.
And the economy utterly collapses in a few hours, beginning with all cards in your wallet becoming worthless.
The more a taxpayer in the state has to lose, the sooner they will leave the state. It really will get that bad, and I suspect many have left.
Good question about collateral.
Maybe all of the real estate, all of the school buildings, would be collateral for such a line of credit??
Unmentioned was a temporary underpayment. Like a tax surcharge, a temporary underpayment equitably distributed among all the pensioners until the crisis is past.
The temporary payouts will be sized to fit the available funds.
since they have no way of paying it back, there better be something!!! then again, the RATS look at bonds like gifts
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