In a Bad State
Andrew Yang Podcast
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The Importance of Competition in Local Government
David Frum: There are incentives for a lot of local legislators to overspend. He says politicians like giving pensions relative to giving raises because they're kicking the can down the road. After 2008, when interest rates were low and unemployment was high, should have been this period of infrastructural innovation, he says. But governments hid their irresponsibility in underfunding pension obligations, Dr. Frum writes.
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