Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
State Debt (pensions, retiree healthcare, bonds, etc.) + State COVID-19 Lockdowns = Less revenue available to the state. Governor Pritzker’s solution? No restructuring of debt. Add more debt via a short term loan from the Federal Reserve (historic program). Continue lockdown policy. Increase spending on social justice initiatives and elsewhere. No collective bargaining agreement pay freezes. Promote a referendum to the state constitution to permit an adjustable state income tax. That in turn permits the General Assembly to create adjustable state income tax rates. The initial adjustable tax rates hike state income taxes on the wealthy. Sounds great to the… Read more »
You nailed it.