Via the Bayou Renaissance Man
Regular readers will know that for years, I’ve predicted that the failing states in the Union – failing because of their feckless, fiscally inept and terminally greedy politicians, plus the cronies to whom they pour out largesse from the state budget – are going to demand that the federal government bail them out, and assume responsibility for their catastrophically large, otherwise unpayable debts, deficits and overheads.
I was right.
As I reported last week, Illinois Democrats have asked for over $41 billion in financial aid, ostensibly related to the costs of the coronavirus pandemic, but in reality specifically earmarked to make up the shortfall in state pension funding, pay off the state’s deficit, and basically cover their overspending for the past decade or two. The money has little or nothing to do with the coronavirus, but everything to do with ensuring that their past misdeeds are paid for by the taxpayers of the entire United States, not just those in Illinois. What’s more, you and I know full well that if they succeed, they won’t change their spendthrift ways. Within a few years, they’ll have dug themselves into yet another fiscal hole, and demand to be bailed out yet again – citing this bailout as precedent.
Continue reading “Bailing out the states: the momentum – and the prospect for violence – builds”
