I mentioned a week or so ago that I was wondering if civilised government was possible any more, given the markets, the phenomenon of corporate tax avoidance, and the sheer cost of public services - and suggesting another way forward to end government borrowing.
Now comes the news that the city of Maywood in California is facing such a big budget crisis that they are laying off their entire staff, including the police, and contracting it all out:
They are not the only US city in this situation either. If the USA, the richest nation on earth, can no longer afford basic services, what hopes for the rest of us?
None of this is intended to suggest that savings are not possible in the UK - quite the reverse - I just don't know if we can ever reach the mythical point of balanced budgets.
Six of the Best 751
1 day ago