If you have to receive the last receivable to make the next payable, that’s the definition of a Ponzi scheme. You are building no equity as people are living longer, no way this works.
Leaving Soon, just not soon enough
8 months ago
The pensions are so expensive that they are unsustainable at today’s levels. The taxpayer cannot afford to pay for them. Higher and higher taxes just chase out more upper income earners and job creators to other states. This is a death debt spiral that will not end well for anyone. Pensions are a form of economic cancer.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
If you have to receive the last receivable to make the next payable, that’s the definition of a Ponzi scheme. You are building no equity as people are living longer, no way this works.
The pensions are so expensive that they are unsustainable at today’s levels. The taxpayer cannot afford to pay for them. Higher and higher taxes just chase out more upper income earners and job creators to other states. This is a death debt spiral that will not end well for anyone. Pensions are a form of economic cancer.