Sword of Damocles Over Illinois

While the so-called news is preoccupied with kindergarten squabbles between Hillary Clinton and Donald Trump, a serious unfunded pension crisis hangs like the Sword of Damocles over Illinois and other states.

Thus reads the description for my latest video, “Sword of Damocles Over Illinois”, published to YouTube on June 1, 2016. The clip, which clocks in at 10 minutes and 43 seconds, can hopefully be viewed at the top of today’s blog entry.

Living in Illinois these days is like having the Sword of Damocles hanging over your head. And now the sharp sword suspended over our heads by a horse hair has become more alarming after a budget deadline in Illinois has gone by without agreement.

“No budget bill by deadline,” reads the banner headline in yesterday’s local newspaper. Now, any legislation passed after the deadline will require a three-fifths majority. [1] Already there had been an impasse between the Red Team and the Blue Team in Illinois. But now, with a three-fifths hurdle in the path, some are saying, “Wait until November.” (The respective politicians will have put the elections behind them by then.)

A daily page-one counter in the local newspaper had given 337 days that Illinois has operated without a budget as of yesterday.

Can we just “wait until November?” By then there will be another budget year and another chasm to bridge. While the so-called news is preoccupied with kindergarten squabbles between Red Team Donald and Blue Team Hillary, anything of substance gets overlooked. Here though is something of substance published yesterday:

“… a looming debt crisis is gathering, the likes of which make Puerto Rico seem a minor prelude.” [2]

Puerto Rico’s unsustainable debt already had to be re-negotiated. “Illinois offers a textbook case of the coming pension fund meltdown,” writes Chuck DeVore in Forbes magazine online. But it’s not just Illinois. Alaska, Connecticut, California, Massachusetts and New Jersey “round out the top six, each having more debt per capita owed to just their pension systems than Puerto Rico owes on its bond debt.” [2]

Things are serious, and all the so-called news reports is kindergarten squabbles between the Red Team and the Blue Team.

Meanwhile, there are ominous Ghost Dance omens. Just as the Indian Ghost Dance craze of 1890 signified extreme desperation, a new sort of ghost dance is appearing: The Messiah will come this time in the form of THE EVENT, when hidden legions within the government shall arrest all the evil-doers and Truth, Justice, and the American Way will prevail. One rumor has July 8, 2016 as the day the Messiah will come. (Background: Message From the Space Brothers, Ersjdamoo’s Blog, May 27, 2016.) [3]

——- Sources ——-
[1] “No budget bill by deadline”, by Tom Kacich. Champaign-Urbana News-Gazette, June 1, 2016.
[2] “Puerto Rico, Illinois And California: Public Pension Dominoes”, by Chuck DeVore. Forbes (online), May 31, 2016.
[3] “Message From the Space Brothers”, Ersjdamoo’s Blog, May 27, 2016. https://ersjdamoo.wordpress.com/2016/05/27/message-from-the-space-brothers/

 

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About ersjdamoo

Editor of Conspiracy Nation, later renamed Melchizedek Communique. Close associate of the late Sherman H. Skolnick. Jack of all trades, master of none. Sagittarius, with Sagittarius rising. I'm not a bum, I'm a philosopher.
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