And further divide the country. Since when is it legal for the government to write a check paid for by the private sector and hand it over to the workers in the government sector?
If I’m not mistaken, that’s what is going on in Puerto Rico. The federal government can pay off dollar-denominated liabilities by putting more cash into the system and with bankruptcy laws it can expropriate bond-holders to pay retired teachers. Certainly we already participate in the losses experienced by those who live near beaches and rivers and in the wooded mountains of the West. When public employees retire in their 50s and live into their 80s and 90s their pensioned years may well exceed their working years. Later or sooner (I hope) the younger cohorts of workers will tire of funding… Read more »
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.
And further divide the country. Since when is it legal for the government to write a check paid for by the private sector and hand it over to the workers in the government sector?
If I’m not mistaken, that’s what is going on in Puerto Rico. The federal government can pay off dollar-denominated liabilities by putting more cash into the system and with bankruptcy laws it can expropriate bond-holders to pay retired teachers. Certainly we already participate in the losses experienced by those who live near beaches and rivers and in the wooded mountains of the West. When public employees retire in their 50s and live into their 80s and 90s their pensioned years may well exceed their working years. Later or sooner (I hope) the younger cohorts of workers will tire of funding… Read more »