but the teachers will still pull down their huge salaries and them and all the state workers will still pull down their fat pensions WHICH ARE NOT TAXED by NY and everyone will be happy....except the poor slobs that need to stay and work for a living and can't afford to pull up stakes...there's a lot of people like that.
But... they Have run out of money now. Tax receipts this year are a fraction of what they HAVE spent. They were in the red before all this happened, the only ready cash they had was the pension fund.
The problem with state and city IOUs is that they cannot print money. A sudden political theater like this pays off in politics, not cold hard cash.These Democrat cities and States are planning on sob stories to raid Federal funds.
I dont think the citizenry are willing to let them off intentionally destroying their own cities. Simply because Federal funds ARE the citizenry, I want to see them clean up their own mess. Burning down the house and blaming me for months, then demanding that I fix it all for them is a NO GO JOE.