Sunday, May 10, 2015

Acts have consequences, large and small.

Yesterday at a funeral at church, I saw a friend I had not seen in several years.  Her sister is a Nurse Practitioner at Baltimore's Johns Hopkins, and a very good one.  As a result of the troubles in that city, the sister is very seriously considering leaving and coming to South Florida.

In yesterday's WSJ, there is an editorial about the Illinois Supreme Court's decision overturning a state law that would modestly cut back on the country's largest unfunded state-employee pension obligation.  The editorial closes with this sentence:

Republican Governor Bruce Rauner has floated an alternative [to raising already high taxes and restructuring loans]: a state constitutional amendment allowing pension modifications, which would require a public referendum and two-thirds vote of the legislature. Barring that, Illinois taxpayers may want to start contemplating Indiana or Florida residency.

And so the market rules and will continue to rule.

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