Reforming government finance
The status quo complications are set into law in the name of ethical regulation by various local bureaucrats and the "Gang of 535" (Congress). USA needs major reform in Federal and State Government law to become the market beacon of Earth.
Draft Constitutional Amendment: The Universe Country
JOINT RESOLUTION
Proposing an amendment to the Constitution of the United States to allow for the systematic separation of certain states.
ARTICLE —
Section 1. The consent of the United States is hereby granted to the States of Michigan, Wisconsin, Illinois, Indiana, North Dakota, South Dakota, Nebraska, Iowa, and Minnesota to peacefully dissolve their political bands with this Union and consolidate into an independent, sovereign nation to be known as the Universe Country.
Section 2. Upon the date of ratification of this Article, the Constitution and laws of the United States shall cease to have force or effect within the territorial limits of the Universe Country, and the citizens thereof shall be absolved of all allegiance to the United States.
Section 3. Congress shall have the power to enforce this article by appropriate legislation, including the establishment of a bilateral commission to negotiate the equitable division of national debt, the transfer of federal properties, and the resolution of interstate commerce agreements.
An example of a good actor in the tax levied debt market is Bernardi Securities. Bernardi works by underwriting bonds issued through local units in an attempt to validate the bond potential and project assigned to the bond.
Sadly, the local government and their contractors fail in a lot of regards to accomplish the bond objectives in a durable and cost effective fashion. Bernardi works justify the municipal bonds (~5TUSD Aggregate tracked on EMMA). These economic underwriting justifications are based on endless economic factors in a rational attempt to advise the bureaucratic outfits and bond market if the issued debt will perform as expected.
Currently USA has government units meeting in authoritarian buildings to figure out how to stop losing money.
In this article I will argue that status quo law governing tax levied debt and bureaucrats are the main causes of economic harm.
United States government units current account deficit (August FY2026)
$2.14 Trillion
Bureaucrats governing RTA/NITA
Hierarchy of laws which govern RTA/NITA, finance, and debt issuance
AI attempt to locate all the laws original sources:
To open HTML file, download them and open the file in a web browser. Working on a better UI for them now.
RTA/NITA financing
The RTA, now NITA, earns funds in two ways: rider payments and taxes. Both funding sources go toward and debt financing first, then operational costs managed by each authority.
Taxes paid from "RTA McHenry County sales tax" (a 6 county SSA [Special Service Area]) to the NITA bond are $14,984,528.85 10/02/2026
The debt holders designed a violent funding system that depends on the other counties' taxpayers with an unequal distribution passed through State legislature.
What I notice is that the sales tax from the entire state of Illinois gas tax 85% of the 5% portion are going to 1st. NITA debt service, and 2nd. each authority.
Please see linked AI research below of NITA 6 County CUSIP BOND tax funding structure in State of Illinois:
RTA/NITA debt
The Electronic Municipal Market Access (EMMA) system, operated by the Municipal Securities Rulemaking Board (MSRB), tracks municipal bonds using 6-digit CUSIP Issuer Bases
RTA CUSIP IDs: For the Regional Transportation Authority of Illinois, the primary CUSIP base for its General Obligation Bonds is 759911
NITA Transition (2026): Currently EMMA has no listed entity, for Northern Illinois Transit Authority,.
Bond underwriting PDF for CUSIP 795142 by Barnes & Thornburg LLP is an example of the extent underwriters such as Bernardi Securities have to go to validate these bureaucrat arrangements based on the status quo compliance.
An example BOND sale (759911XV7) with principal checks mailed out by US BANK in ST PAUL MINNESOTA on REDEMPTION DATE Due: 01-Jul-2029:
*CUSIP Number: 759911XV7, 6.0000%, Due: 01-Jul-2029, Redemption Price: 100%
$ 11,795,000.00 B00K_1
Principal Amount of Redemption: $ 11,795,000.00
MATERIAL EVENT NOTICE –
TRANSITION TO THE NORTHERN ILLINOIS TRANSIT AUTHORITY
ISSUER: Northern Illinois Transit Authority
SUBMITTER INFORMATION:
Name: Leanne Redden
Title: Executive Director
Company: Northern Illinois Transit Authority
Address: 175 West Jackson Blvd., Suite 1550
Chicago, Illinois 60604
Phone: (312) 913-3200
E-mail: leanne.redden@rtachicago.org
Audits of NITA operation
Conclusion
The status quo complications are set into law in the name of ethical regulation by various local bureaucrats and the "Gang of 535" (Congress).
USA needs major reform in Federal and State Government law to become the market beacon of Earth.