Monday, February 11, 2013

Baltimore Heading Toward Bankruptcy

Baltimore, Maryland, another US city run by Socialists for years, is headed toward bankruptcy.   This city and state has very high taxes that have driven out business and jobs.   In fact, the population of Baltimore has fallen from 950,000 in 1950 to just 619,000 today.   22% of Baltimore residents live in poverty.   The Makers continue to leave Baltimore, voting with their feet, leaving behind the Takers.  There are 16,000 vacant, deteriorating properties in Baltimore.   And, why?   For years, Socialists have provided compensation, pensions and benefits to union government workers that are unsustainable; just like in many other cities and states run by Socialists experiencing the same story.   When will they learn.   The answer is NEVER.  

Did you know that years ago, the Mayor of Baltimore was none other than Socialist Congresswoman Nancy D'Alesandro Pelosi's Father, long time Socialist politician and crook.   The apple certainly does not fall far from the tree, does it?   Ms. Pelosi learned Socialist deficit spending governance well at the foot of her Father, known to take money from the Mob, who no doubt, along with other Socialists in Baltimore, put many of the Socialist Schemes in place that are bankrupting that city.   So much so that in a recent study, estimates are that Baltimore will spend $2 Billion more in the next ten years than they take in.   It will probably be even worse as the city continues to decline. 

Of course, since Baltimore, unlike the federal government, cannot print money and eventually they will not be able to borrow what they need to continue all the corruption going to their PEEP's in Baltimore to win votes, the city will go bankrupt like so many others run by Socialists.   Naturally, the Socialists in power, like in Detroit will ask for Obama Dollars in a bail out; but once again,  it will be impossible because if they get a bail out, there will be many more Socialist run cities and states in line just waiting to continue feeding at the trough.  

Most likely, the state of Maryland will have to take over the city of Baltimore in some sort of Receivership Scheme.  That won't make it much better because the state is run by Socialists, as well.   So we will see the economic collapse of Baltimore.   No one knows what that means; but it can't be good. 

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