US budget deficit hits record $204.9 billion for November

WASHINGTON (AP) — The federal budget deficit surged to a record for the month of November of $204.9 billion, but a big part of the increase reflected a calendar quirk. In its monthly budget report, the Treasury Department said Thursday that the deficit for November was $66.4 billion higher than the imbalance in November 2017. But $44 billion of that figure reflected the fact that December benefits in many government entitlement programs were paid in November this year because Dec. 1 fell on a Saturday.
— Read on apnews.com/9aea095139d14801a48b4964cb4ec4e4

This is the real crisis that gets exponentially worse by the day. It will ruin our country before corruption or anything else. The reset will cause much pain.

The Fate of All Municipal Governments – Look to Peoria, Illinois | Armstrong Economics

The system we have is totally corrupt and it outright UNSUSTAINABLE!!!! In Illinois, the city of Peoria has been forced to eliminate 22 firefighter and 16 police positions even after they made 27 layoffs earlier this year. Besides eliminating employees, they are now looking at adding a tax of $50-$300 to try to cover their own pension schemes as pension spending consuming everything. Pension costs are forcing Peoria to cut 38 emergency worker positions and to raise property taxes further. Peoria joins the south Chicago suburb of Harvey which is yet another warning of what is coming over the next three years into 2021.
— Read on www.armstrongeconomics.com/world-news/taxes/the-fate-of-all-municipal-governments-look-to-peoria-illinois/

Pension obligations again