Pasadena Politics

1. Spend more than you make
2. Borrow to pay the difference between expenditures and earnings
3. Borrow to pay for the borrowing.
4. Repeat until you can no longer borrow.
5. Declare Bankruptcy.

How Government can speed the process up:

1. Over budget and refuse to decrease spending.
2. Increase taxes to cover the difference.
3. Give money away to those producing the least.
4. Tax the more productive to cover the increased spending.
5. Expect an increase in productivity to tax.
6. Call it a revenue shortage and go to step 1.