Unfunded Liabilities In Small Government
BY Herschel Smith
6 years, 10 months ago
Via WRSA, this post continues on a theme I’ve worked before here at this web site, to wit, that unfunded liabilities will affect the smallest governments first and worst because small government cannot print fiat money to keep itself afloat.
I’m not sure we learn anything new from the article except for the shear magnitude of the problem, but there is this link in the comments on such a thing happening to a small town in Alabama in 2010. I’ve also pointed out before that unfunded pensions has led to the inability to keep the police departments in Memphis and Miami-Dade afloat without massive changes.
It’s happening not just with small municipalities and towns, but with medium size and larger cities as well. That which cannot continue, won’t.
|
|
On February 14, 2018 at 3:40 pm, moe mensale said:
Such happens when governments cowtow to union demands for what we now know were unrealistic financial entitlements based on unrealistic premises. Mathematics can be played with but it can’t be fooled on a never-ending basis.