Here in Illinois, the state's been a sad and cruel joke for some time.
Quinn: 'I was put on earth' to fix state pension mess. Oh yeah, God's on his side, but what about the public unions that dominate this state? I mean, he's the guy who cut a secret deal with the unions before his election.
Chicago and Cook County elected Quinn--practically the entire rest of the state went red--but the greater population of gov workers voted to perpetuate a system set up for early and often retirement. Of course, this Dem gov and well-connected former Obama White House Chief of Staff now Chicago mayor may figure they'll get a bailout from the federal government. The hell with that. I'm with George Will, a former Illinoisan. Someone who left:
American states’ greater freedom - autonomy under America’s system of dual sovereignty - from the central government’s supervision requires that they be disciplined instead by the market for government bonds, and the real possibility of default.No fatboy gov Quinn kidding. I sure have one foot out the door, I'm a renter now, not an Illinois homeowner. Then there's Mayor Rahmbo. Here's my rant the other day, Mamas, don't let your babies grow up crushed by this
Peterson, a professor of government at Harvard, and Nadler, a doctoral candidate also at Harvard, say collective-bargaining rights for government employees pose “a dramatically new challenge to the viability” of American federalism.
They cite studies demonstrating that investors’ perceptions of risk of default are correlated with the rate of unionization among government employees.
Higher percentages of government employees who are unionized, and larger Democratic shares of state legislative seats, correlate with increases in state borrowing costs.
At least 12 percent of Americans change their residences each year, often moving to more hospitable economic environments.
In a system of competitive federalism, Peterson and Nadler write, “If states and localities attempt in a serious way to tax the rich and give to the poor, the rich will depart while the poor will be attracted.”
And government revenues and expenditures vary inversely.
And here's my tweet stream from last night:
So
So
So
So
So
So
So
So
So
Illinois, freefall to failure. Make my day.
P.S. An oldie:
No comments:
Post a Comment