Sixty-three, out of America’s most populous seventy-five, cities do not have enough money to pay all of their bills. Chicago-based municipal finance watchdog, Truth in Accounting (TIA) revealed these stark news in its third annual, Financial State of the Cities. According to TIA, “This means that to balance the budget, elected officials have not included the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.”
And that’s just cities. A bunch of states are in really deep trouble; Illinois is effectively insolvent. Federal debt is closing in on $22 trillion, with a debt to GDP ratio at a banana republic level of 105%, not even counting unfunded liabilities.
This will not end well.
Source of shared Link
It will end the way the Federal Reserve wants it to end.
After all, they do own the product that is USD.
They can pick and choose who gets bailed out and who doesn't.
All the money is owed back to them,
they can end the charade whenever they please,
but it's better to just keep everyone afraid and in debt.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's unbelievable how often people are still talking about wanting to fund new things! Kills me.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
They have the money. They are just spending it on mansions instead of paying the city's bills.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Layers of government with layers of debt as they try to continue the pumping of the economy with waste. It’s unfortunate how it will all end in devaluation of our currency.
Posted using Partiko iOS
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @preparedwombat!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.722 which ranks you at #1514 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 148 contributions, your post is ranked at #13.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit