When blue states and cities continue to run massive pension deficits—and do nothing to ease the pressure of meeting over aggressive return expectations—you can see the destruction of reverse compounding. And no one wants to do anything about it.
When the average loss is 8%, it’s bad. And that’s not including private equity numbers, which lag by a quarter and aren’t included in this latest fiscal year. There is no way out of this without either a) higher taxes or b) fewer services.
Fewer services mean more problems, especially for blue blob cities. Fewer services will be added to the trainwreck that includes diminished police forces retiring en masse, the inflow of illegal immigrants, and a lower tax base. What’s the solution? Bailouts, of course.
You can hear it in NYC Mayor Eric Adams’s voice, complaining about Texas Governor Abbott sending buses full of illegal immigrants to the Big Apple. He wants help. He’s calling for a bailout. That’s what his argument is all about. It has nothing to do with Texas other than providing him a target. He wants a federal bailout just like every other leader of a mismanaged blue blob city.
Where are the Republicans protecting the Republic other than former President Trump?
Action Line: The FBI and Justice Department are the epitomai of federal government overreach, picking sides and targeting former President Trump. The door is wide open now for Trump ‘24. The case is his to make for a Red State revolution to stop blue blob city bailouts and recklessness. The argument to make Main Street great again is ripe for Trump ’24. Who else is standing up? Click here to stand up with me.
E.J. Smith - Your Survival Guy
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