I want everyone who voted AGAINST "the gubbiment", who voted for "lower taxes, less government, lower wages for those 'lazy city and state workers'." to tell me how it's all working out? As you destroy all those "wasteful" city, state, and federal agencies -- who's going to pick up the garbage, clean the streets, plow all the snow, save the stranded, etc., etc., etc.?
Will we all have our houses burn down if we haven't paid that special "fee" (not a "tax" -- heavens, never a "tax", it's a "fee"). Will we have to form special block associations to contract for snow removal? What will happen when all these "tea party patriots" cut services -- but don't lower taxes an equal amount? What will happen when the private firms raise their prices -- because they can -- to the point it's more expensive than municipal taxes were?
In other words, what will all these folks say when their fantasy doesn't work in the real world?
They are already seeing it in N.Y., New Jersey, and Maine. Oh yeah -- you could NEVER get me to live in Colorado -- the place where they turn off the street lights -- or some of those states where they are now UNPAVING the roads because they are too expensive to maintain. (If you want paved roads -- do it yourself!).
How is all this crazy stuff working out? After enough people die from lack of necessary services -- maybe then, we will come to our senses. It's easy to say, "cut back on social security and medicare" until YOU are on the hook for your Mothers medical costs, or your Aunt Bessie starves to death -- you know, the one who gave you a puppy when you were a kid. Of course, none of these folks think they will ever get old, ever need help, or ever run out of money.
Unfortunately, they will find out, someday.
NBER Paper: "Strategic default rarely occurs" - Ht to Nick Timiraos for link to the paper. An NBER paper from Kristopher Gerardi, Kyle F. Herkenhoff, Lee E. Ohanian, and Paul S. Willen Can’t Pay or Won’t...
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