Don't know where you studied econ; but, must have been somewhere on the Left Coast. There's only one economy--the Tinkerbell economy. You remember the one: "I believe in Fairies!"
I don't pretend to be an economist; but, I am old enough to know (many of) the states have been bankrupt for years--and I haven't seen the salaries or pensions go down.
Yet the pot holes grow. The Senior Centers close. The insane asylums released their patients. The police departments are smaller. Fire Stations close. Medicaid pays less to providers.
All we see is the inevitable becoming worse once they’ve gone through all other options. New York City was bankrupt in the 1970s, and it will be bankrupt again.
Don't know where you studied econ; but, must have been somewhere on the Left Coast. There's only one economy--the Tinkerbell economy. You remember the one: "I believe in Fairies!"
I don't pretend to be an economist; but, I am old enough to know (many of) the states have been bankrupt for years--and I haven't seen the salaries or pensions go down.
Yet the pot holes grow. The Senior Centers close. The insane asylums released their patients. The police departments are smaller. Fire Stations close. Medicaid pays less to providers.
All we see is the inevitable becoming worse once they’ve gone through all other options. New York City was bankrupt in the 1970s, and it will be bankrupt again.