Saturday, June 9, 2018

"The state is approaching a death spiral — departing people and businesses suppress growth; the legislature responds by raising taxes; the exodus accelerates."





"Self-government has failed in the nation's currently fifth-most populous state (Pennsylvania soon will pass it)."

The state is approaching a death spiral — departing people and businesses suppress growth; the legislature responds by raising taxes; the exodus accelerates.

...What is already admitted to? "Unfunded state and local government retirement debt is more than $260 billion and rising.

Nearly 25% of the state's general funds go to retirees (many living in Texas and Florida).