Most people who were paying attention saw this fiscal disaster coming from a long way off. Lots of interests affiliated with the public sector decided they had as much right to exploit the rest of us, in exchange for next to nothing, as the Wall Street Robber Barons, since while the money was rolling in they could pretend those Robber Barons would pay for it all. Now, predictably, the money is rolling out. Yet for the Mayor and Council, representing the private and public overlords respectivley, the problem seems to have arisen over the past 24 hours. Remember that a year from now, before the 2009 election. An even greater repeat is certain.
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