And the only solution politicians have is: RAISE TAXES!! Ya, that'll work. Let's just tax our way out of this mess.
Speaking of mismanagement. At one time the city of Schenectady, NY home of GE had so much tax money from GE, the city garbage collectors actually brought your trash cans from your back yard to the truck, emptied them, then put the cans back in your yard. No respect for money.
The city of Vallejo Calif is also in trouble, I'm sure there will be many counties and cities to follow. Devaluation of properties lower tax revenue's and the snowball begins.
just wait. This is "it". This is worse than the seventies, and they were bad. Now, Monday morning, we're treated to three hours of Warren Buffett. Call that fuck up and ask about your children. People like him have the power to stop all this nonsense. All he can do is stare at Becky Quick and pretend he can still get a hard on. When the people see what has been done to them, and who did it, you'll have 60's style riots.
Gummint depends heavily upon the people NOT being that perceptive and believing whatever bilge the Gummint spews.
yeah he'll have the answers for all the stupid ass sheeple !! like that one old broad says at noon time "we'll help you thru this " LOL this fukin country is gettin just what it deserves . the worse it gets the more im going to laugh my fukin ass off about it all !!! I hope they all go under !!!! Jake
So sad. The country WILL gets what it deserves. All these fat white women w/Birkenstocks screaming and hollering, then the shit will hit the fans, and they'll be calling for the Marines, then they'll get lawyers, and sue for their civil rights.
LOL! (6) (actually the only thing they have in common is that they are all democrats, but I'm not sure what college they attended... ) In all seriousness though, its probably not a bad buy at this point. I am not sure what the historical numbers are on municipal bankruptcies, but they are not like corporate bonds that have nowhere to go when they run out of money. The county can create their own "income" by raising my taxes. In the long run it will be detrimental but in the short run it raises enough cash to pay the bonds. I am no expert on muni-bonds, but it might be worth a look for anyone that qualifies for the tax-exempt status.