Damned right it is, and probable too. And it will be funded by the taxpayers and (in part) state employee pension plans.
By Jack E. Lohman
It’s simple how it works.
Special interests give cash bribes to politicians, who in turn cause excess spending on their privatized projects, for which they’ve received a corporate or lobbyist campaign kickback, which drives state spending higher than resources.
Outgo is greater than income which together equals debt, eliminated (or mitigated) by declaring bankruptcy. Which in turn gets paid down by reducing earned public sector pension plans and increasing taxes on everybody else (except perhaps the Fat Cats who get special tax subsidies and write-offs).
Detroit was the first but won’t be the last. Especially as other politicians see the state and federal bailouts that are sure to result, and they also want an easy way out.
Get this: Detroit was building a $400 million stadium while they were simultaneously going bankrupt! Smart? Or corrupt?
Don’t get me wrong on this. I am as much against unions ripping off the taxpayers, which they do by needlessly driving up public-sector hiring and “bargaining” for higher pensions, all for $300K salaries for their union bosses.
BOTH are bad and BOTH result from personal greed and illegal corporate or union payola, and BOTH result from buying off our trusted politicians. (At least, those that can be bought, which is 95% of them.)
Repeat: It doesn’t matter what the issue — the campaign contributions to politicians by big oil companies, by Monsanto of GMO and bee-killing fame, by the private prison industry and security guard unions, for overly strong drug laws, by the defense industry and drone manufacturers, or the bankers or health care, or whatever industry of the day — political corruption at the top is this nation’s BIGGEST threat.
IT is the big fire… all others are pure and intentional distractions. WE taxpayers will all pay dearly, or our kids will, Lefties and Righties alike. ONLY public funding of campaigns will save our democracy and avoid a bloody rebellion, of which Obama and the Feds are already planning. And ONLY a near-100% turnover in 2014 will save us. Whether R or D, we need new blood, and we need constant turnover, and political leaders that are owned by US rather than THEM.
But we have to quit being sheep/lemmings, and drinking their Kool-Aide. We voters must get smart.
Do you know any politicians who are hurting for cash, like the rest of us? They likely don’t exist because we have such a thing as “payola” and “insider trading” at the political level.
AND… get this… the R’s will not let up on Obama’s failure to fix the country, but they continually refuse to mention that THEY control the House and refuse to pass any of his bills to do so! And our corrupt media knows, but refuses to communicate the truth because they get campaign cash filtered down via political ads! They ALSO like the system broken, and will do nothing to fix it.
Send a message! VOTE THE BASTARDS OUT! Only a near-100% political turnover in 2014 will give us what we need: Public funding of campaigns, and at 10% of what private funding of campaigns is now costing us in higher taxes, that’s a bargain!