Category Archives: debt

Why Warren Buffett is right to warn about Illinois: The state’s true retirement costs now total 50% of annual budget. | Wirepoints

Posted on January 10, 2020 by TonyR

Warren Buffett says he wouldn’t relocate a business to a state like Illinois. He doesn’t want to get stuck paying for its pension crisis. He recently told CNBC: “In the public sector, you know, it’s a disaster…If I were relocating … Continue reading →

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How a train through paradise turned into a $9 billion debacle | Green High Speed Rail Fantasy

Posted on March 22, 2019 by TonyR

In a project that has tallied one of America’s biggest cost overruns, Honolulu officials rushed construction of an elevated railroad before finishing key steps such as a check of native burial grounds, racking up huge delays and ballooning expenses. A … Continue reading →

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Chinese Build Ecuadorian Dam Has 7,648 Cracks and Doesn’t Work | 90$ Billion In Debt to China

Posted on December 28, 2018 by TonyR

As early as 2014, technicians noticed cracks in the Chinese-made stainless steel equipment. That December, 13 workers were killed when a tunnel flooded and collapsed. A senior engineer sent records to Mr. Correa, the president, asking to brief him on … Continue reading →

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Abe Lincoln’s library faces so much debt that it’s considering selling his stuff — including his hat and gloves  | Go Fund Me to Help

Posted on August 17, 2018 by TonyR

The Abraham Lincoln Presidential Library Foundation, which supports Lincoln’s museum in Springfield, Ill., has found itself $9.7 million in debt on a loan it took out 11 years ago to purchase a collection of rare artifacts from a private collector. … Continue reading →

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Hospitals scrap surgeries, Venezuelans forgo showers as taps run dry | Oil Rich and Broken

Posted on August 15, 2018 by TonyR

CARACAS (Reuters) – At one of Caracas’ biggest public hospitals, most bathrooms are closed. Patients fill jugs from a tiny tap on the ground floor that sometimes has a trickle of water. Operations are postponed or canceled. Water cuts are … Continue reading →

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The Truth About Illinois Pensions In One Stunning Chart | Democrat Promises That Can’t Be Kept

Posted on July 10, 2018 by TonyR

In 1987, pension promises made to active workers and retirees in the state’s five state-run pension plans totaled just $18 billion. By 2016, they had ballooned to $208 billion. That’s a cumulative 1,067 percent increase. Contrast that to the state’s … Continue reading →

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Feds Launch Review Of Teachers’ Grant Program That The Obama Administration Did Not Fix

Posted on May 22, 2018 by TonyR

  After two years of fighting (started before Trump), McCollum says she’d given up hope. And many teachers who reached out to NPR said the same…. It’s a financial nightmare for public school teachers around the country: Federal grants they … Continue reading →

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‘Do you fear me?’: Venezuelan Socialist Maduro vows to gatecrash regional summit

Posted on February 15, 2018 by TonyR

Peru’s center-right government this week said Maduro would not be welcome at the Summit of the Americas in April, reinforcing his growing diplomatic isolation during a crackdown on dissent and a brutal economic crisis in Venezuela. “Do you fear me? … Continue reading →

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Democrat Devolution: Dianne Feinstein Was For Boarder Security When It Helped Her

Posted on February 1, 2018 by TonyR

Back in 1993 and 1994, Feinstein’s former rival, Gov. Pete Wilson (R-Calif.), had placed a ballot question on the November ballot known as Proposition 187. The measure would have denied public social services to illegal aliens. The measure passed that … Continue reading →

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Puerto Rico to privatize Broken state owned power company

Posted on January 22, 2018 by TonyR

Jan. 22 (UPI) — Puerto Rico Gov. Ricardo Rossello announced Monday the island will privatize the assets of its state owned power company. Rossello said the process of selling the Puerto Rico Electric Power Authority will begin with legislation to … Continue reading →

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