California isn’t the only state with a federal government-funded bullet train project that will never live up to expectations.
By nearly all fiscal measures, the state of Illinois is a basket case.
Four U.S. cities went belly up recently, and all declared bankruptcy largely due to unaffordable government pension costs. The outcomes of these bankruptcies should make everyone think twice about lending money to cities with serious public pension debts. The graphic below shows the outcome of the municipal bankruptcies in Vallejo, Detroit, Stockton, and San...
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