Donald Trump – a bigger problem than COVID and the GFC combined

Los Angeles has a Donald Trump problem. It’s making the city's bad budget even worse

Los Angeles city government did plenty to create its billion-dollar budget problem.  Its elected leaders are so in thrall to public employee unions that departments grew too big and often paid too much in salaries and pensions. That’s smart politics but bad policy. The reckoning, now upon a city with an $800 million shortfall, will be painful. But the city is not fully to blame. Indeed, much of Los Angeles’ current budget struggle is being infli…

Donald Trump – a bigger problem than COVID and the GFC combined

The Reserve Bank chooses its words carefully. In its most recent economic outlook, it used the word “uncertain” much more than ever before.