Report: 10 states face looming budget disasters – Yahoo! News
Not much to say here as the writing is as they say “on the wall”. The 10 states that together are our most populous and therefore have the most to lose in a down turn as far as jobs and productivity are concerned now find themselves on the ropes. These states account for more than 1/3 of the nations economic output and population. That much of their problems have to do with the same problems the federal government has, bloated government employee rolls and to many and too generous entitlement programs, is not surprising.
California’s ongoing fiscal crisis has attracted national attention, but a study warns that nine other states are barreling toward similar economic disaster.A report released Wednesday by the Pew Center on the States says Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin also are at risk of fiscal calamity.
That could mean higher taxes, more layoffs of government employees, increasingly crowded classrooms and fewer services in states that account for more than one-third of America’s population and economic output.
Another thing that will not be surprising will be the federal governments rush to bail these states out of their problems thus allowing them to go their merry ways without making the cuts in government employees and social services that have to be made. The Obama administration is desperate to stop the rise of unemployment so that they can continue to claim the Stimulus bill “saved” jobs so it will be paramount to the administration not to allow these states to cut back on the employee rolls.
Now there will of course be cut backs on education and cut backs on services offered, but they will keep the same number of government employees sitting around handling fewer cases and doing less work. And neither will the federal government nor the state governments insist the union members, Service Workers International Union (SEIU), give up any of their lucrative benefits in order to keep their jobs. If you will remember SEIU’s Andy Sterns was once of the people President Obama proudly claimed he spoke with about health care legislation. SEIU also gave Obama’s campaign hundreds of millions of dollars in workers union dues to buy this kind of largess with the rest of the tax payers money. I would also like to make clear that the tax payers whose money I am speaking of are too young to be paying taxes yet or have not even been born yet because the THE FEDERAL GOVERNMENT DOESN’T HAVE ANY MONEY! We the people are paying our bills with money borrowed from people who save their earnings in China and India and Japan.
As my father would say, we are going to hell in a hand-basket! BB
