Don't Bail Out My State

WSJ.COM ^ | MARK SANFORD

[org.whodat]

Washington is short on cash these days and will borrow every dime of the $150 billion to $300 billion for the "stimulus" bill now being worked on. Federal appetites may know no bounds. But the federal government's ability to borrow is not limitless. Already, our nation's unfunded liabilities total $52 trillion -- about $450,000 per household. There's something very strange about issuing debt to solve a problem caused by too much debt.

[org.whodat]

The good Governor was just on fox news, catch the rerun.

[NordP]

I wish there were a TV show for State Budgets like they have for kids.

America needs a NANNY 911 for Governors!

[mewzilla]

Taxpayers shouldn't bail out any state, including mine, NYS.

[mewzilla]

Governors and state legislatures.

[NordP]

Whoops..true!

[NordP]

Introducing, in the new 2009 season TV Line Up... NANNY 911 FOR GOVERNORS & STATE LEGISLATURES !

[mewzilla]

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.

Alexis de Tocqueville

We're our own worst enemy. Who the heck needs Islamists? :(

[NordP]

SOMETIMES YOU JUST GOTTA LET ‘EM CRY!

[mewzilla]

Forget a third party. We need a second one. And if we have the gumption to do it, God help the 'Rats and RINOs.

[NordP]

Yep...who needs Islamics when you have Liberals!

[NordP]

...and a Muslim (no dog now? - interesting...) President

[NordP]

Because I do believe there are more Patriots than Punks, but the Patriots have been quietly going about their business of being good citizens....IT’S TIME TO ACT NOW, OR FOREVER LOSE OUR GREAT NATION.

[HuntsvilleTxVeteran]

Inflation is not caused by the actions of private citizens,
but by the government:
by an artificial expansion of the money supply required
to support deficit spending.
No private embezzlers or bank robbers in history have
ever plundered people’s savings on a scale comparable
to the plunder perpetrated by the fiscal policies of
statist governments.

AYN RAND

[sickoflibs]

RE “There’s something very strange about issuing debt to solve a problem caused by too much debt.”

Seems like this has to be our ‘new’ (post GWB) message. Shumer counters with ‘deflation’

[org.whodat]

No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

I don't know the amount of derivatives two years ago was 40 trillion dollars, created out of thin air, but a lot of people have pocketed a lot of money, and the tax payers are picking up the tab.

[org.whodat]

don't know the amount of derivatives two years ago was 40 283 trillion dollars, created out of thin air, but a lot of people have pocketed a lot of money, and the tax payers are picking up the tab.

Correction, typo

[Extremely Extreme Extremist]

"I told you guys but you kept calling me a kook...now you reap the whirlwind."

[org.whodat]

LOL

[Sir Francis Dashwood]

The PERS (public employee retirment systems) are the other shoe that will drop shortly. How much of state budgets does this system eat up every year???

[TalBlack]

“There’s something very strange about issuing debt to solve a problem caused by too much debt.”

Credit, as a bridge, will work. But when credit is overused and it becomes the road THAT is unsustainable.