Wednesday, October 18, 2017

Such A Thing As Borrowing Your Way Out Of Debt?

Pennsylvania seems to think so.

Pennsylvania House OKs new deficit package
"It's built around borrowing $1.5 billion against Pennsylvania's share of the 1998 multistate tobacco settlement and extending the state sales tax to purchases in online marketplaces to raise about $50 million."

Borrow 1.5b-- Well that's one way to balance the budget.
Isn't that one of the leading causes of bankruptcy?

I knew this fella who laughed off the $100,000's he owed saying screw em'-- they can't collect when I'm dead and gone. Problem here is after these legislators are dead and gone those of us still among the living in Pennsylvania will be paying for their financial recklessness.

Hey who knows--maybe some of these legislators once voted out of office may move to some other place where the grass is greener.

Always good to have a backup plan, right?

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