I don't believe I have said that public pensions are the cause of the problems.
Andy Biggs
The Public Record
Andy Biggs is an American politician and attorney serving as the U.S. Representative for Arizona's 5th congressional district since 2017. A member of the Republican Party, he has been active in various legislative efforts and is known for his conservative positions on issues such as immigration and national security. Biggs has also been vocal about his opposition to what he terms the advancement of Sharia Law in the United States, emphasizing his commitment to preserving American values.
It is the chasing of returns that is driven by the fact that a high return is imposed on them by legislatures.
The fiscal crisis at the State and local level has many causes. The proximate cause is the significant economic recession, from which the U.S. economy still struggles to recover.
In a weak economy, where you are facing financial instability, higher income people... have the greater ability to weather that.
resolving these issues in the near term helps both individuals, businesses and financial markets have confidence in the activities they are undertaking.
the average rate of tax collection has been roughly 18 percent of GDP. Whether we like it or not, whether we think it should be higher or not, it is a reality and this reality is nonnegotiable.
Obviously, a large portion of the debt that has been issued and is currently being issued by the United States is held by overseas investors, including China.
We have got billionaires that aren't paying any taxes all over this country, we have everyone sheltering money offshore...
My greatest concern is not so much for this recession as the next one, which inevitably will come.





