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To: SwampDogg who wrote (76802)	6/28/2003 11:44:09 AM
From: skinowski	Respond to of 209892

I can give you an example of a government which is already bankrupt, but it just doesn't know it yet - the NYC. The mayor Lindsey generation of baby boomer city employees - teachers and others - are beginning to retire in large numbers, and on rather generous packages. Those people have to be replaced. The growing problem was covered up by the boom in the markets and in the economy, but now it is about to hit the fan big time. The city is firing people and cutting services, but I don’t think this will help for long. Mike Bloomberg can try increasing the parking meter fines higher than the current $110, and charge for crossing city tunnels and bridges to more than the current (outlandish) $4 a pop, and they can introduce some more bizarre taxes, like (I heard) the new one on high-income earners - in the end, the numbers will still not add up... edit - I am told that NYC just "uncovered" some sort of a "surplus" - wonderful... there is nothing like a timely few bucks when you need to buy some time... -g.