Yeah but all these pensions are going to be restuctered through the bankruptcy courts and all these union workers are going to find out that this was all a fraud.
In fact when Rahm Emmanuel finally gave into political pressure and gave the teachers unions the contract they wanted. Word is that he said Why not? It’s not worth the paper it’s written on. No matter how you feel about Rahm...he can read a balance sheet he already knows how this is going to play out.
“Word is that he said Why not? It’s not worth the paper it’s written on. “
Exactly. That’s why Obama seriously wants the debt limit permanently eliminated—so he can just keep taking on more and more debt to maintain his political power, realizing that none of it will matter, anyway. As states and union pensions increasingly need to be bailed out, Obama’s federal government will just keep doing it using Monopoly money until it all collapses. By then, his dictator powers will be more fully established, and he will just declare martial law during his third or fourth term. The main hurdle to all this is the fact that the Bamster is basically lazy, and it takes work to set up a good dictatorship.