Posted on 08/10/2011 4:13:40 PM PDT by philo
Sure it was HIGH PROFILE, because such defaults are almost never. The towns tend to be run by mostly old white guys with some women mixed in. Voters elect them because they know them to be responsible, and the local taxes well measure that responsibility. Voters vote close to their own wallets, unlike the HIGH PROFILE financial advisors who advise funds where the money is already at quite a remove from the owners.
In this HIGH PROFILE case the town of Central Falls has 18 thousand residents and $21 million in debt with a pension shortfall of $4.8 million predicted in fiscal 2012. It’s a city that is among the poorest in RI and has an almost 15% unemployment rate. In other words, it’s small potatoes.
I’d love to see the ratio of unemployed 0bama voters vs. unemployed Tea Partiers.
great quote
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