Sometimes I amuse myself:
— BattleSwarm (@BattleSwarmBlog) April 15, 2015
Might have some real content coming later today…
Hope you’ve finished your taxes already! Time for another Texas vs. California update:
Remember John Wiley Price, the longtime Dallas Democratic political fixture arrested on bribery charges?
Well, he’s now on his second court appointed lawyer.
At taxpayer expense.
Price is accused of taking $950,000 in bribes over a decade from businesses seeking county contracts or other approvals. He earns $141,236 a year as a county commissioner and owns various cars and two Oak Cliff houses.
Federal agents seized more than $450,000 from Price in 2011 as part of their investigation. Price had about $11,000 in cash on him when he was arrested in July, authorities said.
Yeah, that sounds like some serious grinding poverty Price is facing. (Just for balance, the lefty Dallas Observer says that politicians getting public legal aid after indictment is not all that uncommon. And Price’s case is complicated by having so many “assets” tied up via civil forfeiture.)
Maybe he and Hillary Clinton could compare notes on being broke…
I might have an analysis of the the Iranian nuclear deal later, or I might now, depending on how my taxes are going…
National Journal has a piece up by moderate lefty John B. Judis on all the problems plaguing Chicago.
Perhaps more than any other major city in America, Chicago is facing a truly grave set of problems—problems that are essentially more extreme versions of the challenges confronting city governments across the country.
But there’s a vital piece of information omitted from that sentence: “problems that are essentially more extreme versions of the challenges confronting city governments across the country run by the Democratic Party.” Though Republican cities are not immune to such problems, make no mistake that the very worst examples are cities run by the Democratic Party, most for a very long time (Detroit hasn’t had a Republican Mayor since 1962, Chicago since 1931), and most are in states with solid (if not overwhelming) Democratic Party majorities.
The failure of America’s bankrupt cities is a microcosm of the failure of the Blue model of big government liberalism. And the reason I have spent so much time on covering California and Greece is that they are part of the same story: The failure of American liberalism is a microcosm of the bankruptcy of the welfare state, and the bankruptcy of the welfare state is a subset of the failure of socialism.
The quandaries begin with Chicago’s dramatic social divide. To an even greater extent than is the case in, say, New York or Philadelphia, Chicago has become two entirely separate cities. One is a bustling metropolis that includes the Loop, Michigan Avenue’s Magnificent Mile, and the Gold Coast, as well as the city’s well-to-do, working-class, and upwardly mobile immigrant neighborhoods. The other Chicago consists of impoverished neighborhoods on the far South and West Sides, primarily populated by African-Americans. These places have remained beyond the reach of the city’s recovery from the Great Recession.
As we have known since Charles Murray’s Losing Ground in 1984, welfare programs don’t lift the poor out of poverty, but keep them ensnared in it. Indeed, a cynic might observe that welfare programs are designed to create a voting clientele for the welfare state and the liberal party that runs it.
The problem, as Mark Steyn put it, is that “the 20th century Bismarckian welfare state has run out of people to stick it to. In America, the feckless insatiable boobs in Washington, Sacramento, Albany and elsewhere are screwing over our kids and grandkids. In Europe, they’ve reached the next stage in social democratic evolution: There are no kids or grandkids to screw over.”
As Steyn further noted:
A government big enough to give you everything you want isn’t big enough to get you to give any of it back. That’s the point Greece is at. Its socialist government has been forced into supporting a package of austerity measures. The Greek people’s response is: Nuts to that. Public sector workers have succeeded in redefining time itself: Every year, they receive 14 monthly payments. You do the math. And for about seven months’ work – for many of them the workday ends at 2:30 p.m. When they retire, they get 14 monthly pension payments. In other words: Economic reality is not my problem. I want my benefits. And, if it bankrupts the entire state a generation from now, who cares as long as they keep the checks coming until I croak?
The story of Detroit’s current bankruptcy is the story of Chicago’s coming bankruptcy, and the similar problems of California. All are dealing with bloated public sector pensions that are making their cities insolvent. All promised and spent money they didn’t have against their decedents, not realizing (or not caring) that the debt burden will ruin the worlds of those decedents before they could ever pay it off.
The theme with all is that deficit spending destroys, and the only cure is to force governments to pare back the welfare state and stop spending money they don’t have. As the example of Greece shows, there reaches a point in welfare state dependency at which actually curtailing welfare state spending, even at the point of financial ruin, is politically impossible. The looting of the public treasury cannot be stopped because that looting is the only thing that holds left-wing coalitions in power anymore.
One of the many reasons the Tea Party exists is to hold American politician’s collective feet to the fire to make sure the terminal phase of the welfare state Greece is now enjoying never gets that bad in America. (To this end, they’ve had the tiniest little glimmer of success.)
Chicago is Detroit is California is Greece is, eventually, America. It’s all part of the same story, and one any voting public ignores at its peril.
(Hat tip: Instapundit.)
Those two outstanding Obama successes, ObamaCare and Middle East foreign policy, just keep succeeding…
Since that was a mostly very depressing roundup of news, here’s a Golden Retriever puppy sliding down a ramp.
Time for another Texas vs. California roundup:
The missed payments illustrate the trend among cities in bankruptcy to favor payments to pension funds over bondholder obligations, which has increased the hostility between creditors and municipalities.
San Bernardino declared last year that it intends under its bankruptcy exit plan to fully pay Calpers, its biggest creditor and America’s largest public pension fund with assets of $300 billion.
The city continues to pay its monthly dues to Calpers in full, but has paid nothing to its bondholders for nearly three years, according to the interest payment schedule on roughly $50 million of pension obligation bonds issued by San Bernardino in 2005.
If you’re a bank, a retirement fund, or a hedge fund, why on earth would you buy California municipal debt when there are safer alternatives? (Hat tip: Ace of Spades HQ Doom roundup.)
Another Friday, another LinkSwarm. There’s almost enough news here to break out a separate “UK child rape cover-up update,” but I found the idea too depressing…
What set off this new round of ominous Israel concern-trolling was Netanyahu’s assertion that leftist NGOs, billionaires and consultants were making sure that “Arab voters are going to the polls in droves.”
Which was a fact.
The leadership of the Arab front has openly stated that it wanted to pull together any and all factions of Israeli Arabs, including communists and Islamists, for the single political purpose of removing Israel’s prime minister. Arab political forces are free to rally to unseat Netanyahu, free to aspire to dismantle the Jewish State, but if Netanyahu mentions any of this he’s a racist undermining Israel’s formerly pristine democracy. Or so we’re told.
— KillerBunnyFooFoo™ (@PolitiBunny) March 18, 2015