American States on the brink of financial catastrophe

In the third year of the worst recession since the 1930's many States totter on the brink of catastrophe, after generations of imprudent management.  Ahead lie even greater challenges, as employees cash in on their insanely generous pensions.  A few charts tell the tale -- showing America's most profligate states -- from "The State of California … Continue reading American States on the brink of financial catastrophe

We might default on our governments’ debt in the future. Do you know how often we’ve done so in the past?

Summary:  Hard times might lie ahead, forcing difficult choices.   We must clearly understand our alternatives, and their history.  IMO only clarity of thought and resolute wills will see us through the next decade.  How to manage public finances might be our greatest challenge. Why do we continue down a path which almost certainly ends badly?  … Continue reading We might default on our governments’ debt in the future. Do you know how often we’ve done so in the past?