“Like the Big Three automakers, states should first take advantage of the downturn to do some needed cost cutting and restructuring.”
First, I think it is ironic that the same liberal Congresspeople who just days ago gloated over the fact that the federal government (which caused the recession in the first place) was being called on to bail out private enterprise. They jumped to the conclusion that free enterprise is finished, but I doubt they will so arrogantly declare Big Government dead when they must bail out the State governments. They will no doubt make the argument that if they must bail out private enterprise, then “of course” they should also bail out State government.
Second, the federal government did cause the recession with its “affordable housing” policies. They used their influence to get their cronies appointed to the Fannie Mae board, and then promptly looted the company to fund their affordable housing initiatives. It was the downfall of Fannie Mae that brought this all about.
Third, State governments would not be in such tough shape if it were not for the fact that the federal government consumes such a large portion of the taxpayer’s paycheck. When the federal government consumes so much of their income, there is a lot of pressure on State and local governments to compensate by reducing taxes at the State and local level. If Obama has his way, it’s only going to get worse.
Third, State governments would not be in such tough shape if it were not for the fact that the federal government consumes such a large portion of the taxpayer’s paycheck. When the federal government consumes so much of their income, there is a lot of pressure on State and local governments to compensate by reducing taxes at the State and local level. If Obama has his way, it’s only going to get worse.
Brilliant, that's ... well, your screen name! Well posted!