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“County Executive Scott Walker and other county officials hope to reap significant savings by issuing the pension debt at about 6% and investing the earnings at 8%” (Fixing Milwaukee)

What idiocy!

So who will get fucked on the most on this?

1) The taxpayers who stick around  and will have to pony up in increased taxes and reduced services to cover this action which is sure to fail?

…or…

2) The larger pool of creditors, retirees, and taxpayers when the county declares bankruptcy in 10 years?

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2 Responses

  1. Haha!

    I thought this was something from Jan 2008!

    Why not just get a subprime mortgage!

    Your city has all sorts of problems, but the blindness in this article is really special!

  2. It is at all levels, city, county, school boards…they are all messes. I really think the County Gov will need to declare bankruptcy by the end of the decade.

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