Posted on 08/22/2011 8:46:25 AM PDT by fightin kentuckian
This morning Laura Ingraham mentioned that a friend of hers, who works in the financial sector, predicts that a certain sector of the economy will shed 10's of thousands of jobs later this year. I had to turn off the radio and didn't catch the rest of the comment. Did Laura mention or hint at which sector her friend was talking about?
yall are a bunch of dumb rubes. nobama already explained why this will happen: ATMs
/sarc off
A lot of states are in the red. At some point they will have to balance their budgets. You can only raise taxes so much before your tax base just shuts off or flees the state.
Eventually, the public sector is going to get walloped. Merely renegotiating union contracts like they did in WI isn’t going to get the job done entirely.
There are already hiring freezes in place in many state and local sectors. That’s not going to get it done either. Departments will have to be merged or eliminated and jobs cut.
The reckoning may not come this year, but it will come.
That is some sobering reading.
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