Democrat, aka Socialist policies do not work. Democrat ruled cities & states are crime & debt cesspools with no sign of righting the course any time soon. But time may be running short before these states have their “Titanic Moment”, and their frivolous spending will come to a screeching halt because they ran out of other people’s money.
The exact same problem that has plagued every socialist nation in the entire history of humanity. Big government is inefficient and collapse has proven inevitable in every instance.
Now, Democrats are about to get a reality check.
A number of blue states are drowning in “irretrievable” debt, and taxpayers are likely to be on the hook for a looming bailout.
That’s the opinion of Mitch Daniels, the former governor of Indiana, who appeared on Fox Business Network to discuss his recent op-ed published in the Washington Post that highlighted the debt crisis facing Connecticut.
“They’re just one of a number of states, including some of the biggest states, that are in deep water,” Daniels told host Stuart Varney. “I think it is irretrievable. Pensions is the core of it. It’s not the only fiscal recklessness that they have practiced, but in some of those cases, the bill are genuinely unpayable.”
Public pensions “of sometimes grotesque levels,” the Republican wrote in the editorial — which explains the co-dependent relationship that exists between the Democratic Party and public sector unions responsible for these unsustainable pensions.
“In California, some retired lifeguards are receiving more than $90,000 per year. A retired university president in Oregon received $76,000 per month — and no, that’s not a typo,” Daniels wrote.
Connecticut isn’t alone in state struggling with this burden, with California, Illinois, New Jersey and New York unable to make pension payments to retired government workers, according to Fox Business Network.
In Illinois, for instance, vendors wait months to be paid by a government that’s $30 billion in debt, and one whose bonds are just one notch above junk bond status, according to Daniels. New York’s more than $356 billion in debt; New Jersey more than $104 billion; and California more than $428 billion.
Adding to the problem in many states, Daniels explained to Varney, is that wily pro-union Democrats have encoded pension protections in state constitutions.
“There may be a way in some states to have a reset of the pension obligations,” he said, “although in some places, they’ve actually been constitutionally protected.”
And some folks continue to be surprised why so many Americans voted for Donald Trump, the only non-politician running in 2016?
Meanwhile, citizens are evacuating blue states at a rate that is increasing the debt load per person, due to declining populations.
For example, the Soviet State of Illinois is losing more citizens than nearly every other state, and according to reports, the biggest reason citizens are leaving is that they can no longer afford to live in the Land of Lincoln.
Certainly, Americans move from place to place for a large variety of reasons. From new jobs, to schooling, to weather and family, Americans are a people motivated by the need for change.
But in Communist ruled Illinois, one of the major reasons to seek a change of venue is because the state is simply taxing them out of their homes, according to Chicago’s WGN TV.
According to reports, Illinois alone lost 33,703 citizens to outward migration last year. In 2016, the state lost another 37,508 people. A report by the Chicago Tribune also noted that Chicago has been a net loser of its citizens for the last three years running. And the surrounding county was also a net loser of its population.
Indeed, Chicago is unique in the U.S. for being the only major city that has consistently lost citizens over the last five years. The Tribune’s editorial board even published an editorial saying that it no longer makes any sense to live in Illinois.
Because so many citizens are leaving, Illinois dropped from fifth-largest state to number six in 2017, the Tribune reported last year.
One Chicago couple who moved to Tennessee told WGN that the move gave them back an amazing 25 percent of their income that would no longer be lost to property taxes and other expenses associated with living in the deep blue state of Illinois.
Another ex-Chicagoan told WGN that her property tax in Tennessee was the same as those she paid in Chicago, but the size of her property in the Volunteer State is far larger than what she had back home.
Best-selling author Brad Thor, who calls himself an “economic refugee,” told WGN that he fled Chicago to stop “aiding and abetting” the city’s corruption.
“I was aiding and abetting a corrupt system in Illinois,” he said explaining why he moved to the Nashville, Tennessee, area. “We’d all had it,” he said of why he and others left Chicago.
With so many leaving Illinois, it is no wonder that moving van Line company United Van Lines ranked the state as number one for outbound moving vans.
So what was the Illinois legislature’s answer to people fleeing crushing taxes?
By raising taxes, of course!
James E Windsor, Overpasses News Desk
July 29th, 2018