Detroit's Bankruptcy Ruling Doesn't Spare the Pensions
But it's up to politicians and voters to fight for reforms
But it's up to politicians and voters to fight for reforms
From farm subsidies to NEA grants, the federal budget is littered with needless programs.
If the "consent of the governed" is a sacred American principle, how does the government borrow money in our names and compel us to repay the debt?
Following Sen. Cruz's marathon speech
Says years of litigation would be "horrendous"
Government making the wrong kinds of spending cuts (as in, not cutting entitlements)
The loss of jobs and development is the symptom, not the disease
From financial crisis back in 2001
Cities don't have to be in trouble to dump retirees on federal taxpayers
There are fears local governments may not be able to repay
Move alarming conservatives
The president and his supporters try to downplay the continuing crisis.
The bankrupt city starts putting price tags on everything, considering sales or privatization
Says there is "no guarantee" that domestic investors will continue to fund the public debt of the world's third biggest economy
Refuse to concede that spending vastly more than you have is a problem at all
Say they never specifically advocated for austerity
If they owe money to the courts, even though jailing them is illegal
Former OMB director says decline may be irreversible
Black Swan author Nassim Nicholas Taleb on fragility, centralization, and capitalism