One word: pensions.

I’ve been saying for years that Illinois’ pension system was a massive overhang on taxpayers. So, Mitch wants to get rid of the overhang.

https://www.theatlantic.com/id...-go-bankrupt/610714/

Troubling since both MrsTuner and I survive on IL pensions...

quote:

Originally posted by rontuner:
Troubling since both MrsTuner and I survive on IL pensions...

...which you earned as part of your compensation.

Mitch McConnell? Where to begin?

Thought my contempt for McConnell could not grow.
Have sent more to Amy McGrath than I have ever sent to a candidate.

I've always thought we'd need it eventually (a new chapter in the bankruptcy code for states).

But I'm totally in favor of giving the states money to make up for Coronavirus-related shortfalls.

Maybe a compromise - bailout for now, new chapters in the code for the few states that will eventually need it.


Having said that, we're going to be in a totally new world debt-wise. Yeah, we saw something like it after the war, but we had the advantage of being the only economy still standing with a world that wanted to buy our goods.

quote:

Having said that, we're going to be in a totally new world debt-wise.

This is why Trump (or those who are pulling his strings) are itching to repudiate debt held by China. Not quite sure how they could do this. A ten year note is a ten year note.

quote:

Originally posted by jon-nyc:

Maybe a compromise - bailout for now, new chapters run the code for the few states that will eventually need it.

Agree, we should do both, just a matter of timing.