23rd February 2017
Dallas is one of the Democrat-dominated blue metro pustules on the otherwise bright red butt of Texas.
Dallas could be the next major American city to follow Detroit into the throes of bankruptcy, warns Eric Boehm. Dallas Mayor Michael S. Rawlings said in November that he believes the city is “walking into the fan blades,” in large part because of unsustainable pension promises made to the city’s police officers and firefighters. The fund that is supposed to pay for retired cops and firemen is more than $5 billion in the red, and estimated to be out of money within 20 years.
Pournelle’s Law: The function of government is to hire and pay government workers.
Unfortunately, socialism means that eventually you run out of other people’s money.