Tuesday, December 7, 2010

A great start

An article in Forbes begins with this great sentence:
The sovereign debt crisis now threatening Europe, as well as major American states and cities, discloses the sheer incompetence of a political class that has over-promised, under-delivered and squandered vast amounts of their citizens' wealth. 
That really gets to the heart of the matter, doesn't it?

The unfunded pension liabilities of the city of Chicago are $40,000 per household. Things must have looked really bad at the White House for Rahm Emanuel to have quit and gone back to Chicago.

1 comment:

Michael J Oakes said...

A companion piece: