Don't ask me how I come across these things but I do! Too much idle time, the 'Memsahib' would say; serious research, would be my answer. Actually, I just seem to click around in a random fashion and, you know, things pop up, like this on the municipal shit storm approaching sundry American cities. According to the Washington Examiner, there are 19 cities that have bigger payroll numbers on their books than Detroit as measured against the overall city population which has to pay, medicate and pension them.
So, to take Detroit as a starter for comparison purposes, each city employee was 'supported' by 61 residents. There were 11,645 of them and their total annual cost was $651,437,244., so each employee was, on average, costing Detroit $55,941 pa. Detroit is now bankrupt.
There are nineteen cities in a worse situation on this measurement than Detroit so just for testers consider, say, San Francisco which has only 28 residents per city employee each of whom earns on average $178,925 pa! The annual payroll ammounts to $5,128,000,752!
Well, you do the math but I will ask you a simple question, would you be interested in buying city bonds from San Francisco? If your answer is 'yes', please do get in touch with the Mayor who would be very, very, I mean, seriously, folks, interested in meeting you.
Before you decide,however, I should point out that the Washington Examiner explains that, in typical government fashion, the quoted statistics issued by the Cities do not include a whole host of 'other government employees' including, for example, teachers!
I do realize that 'Posh George' at our Exchequor is a bit potty but I am forced to ask if metropolitan America is really and truly going bonkers? Please check that excellent link I provided above before you answer!