4 ms·
A great example of what you get when financial decisions made at the current political whim is the looming unfunded pension crisis in Chicago / Illinois, New Je
by mtanski 10y ago
A great example of what you get when financial decisions made at the current political whim is the looming unfunded pension crisis in Chicago / Illinois, New Jersey. There are a lot of places right behind those as well. Super easy to make promises for when you no longer be around to deliver on... Esp if you need votes now.
- pessimizer 10y agoChicago and Illinois are terrible examples. Their collapse is due purely to graft and deals between insiders, and there has never been a change in whim. Financial decisions were made by unaccountable appointees for the benefit of their friends and relatives.