[Tea Party Reveler]

The citizens of the “failed States” (NY, CA, NJ, MI,) need to be told the American taxpayer isn’t going to pay their bills anymore. They need to be told “get your finances in order” or SINK.

California is the worst offender. California is the most wasteful and the most irresponsible State. It’s debt (20 Billion and rising) is the largest. Nancy sure would like to write them a check, wouldn’t she? (at our expense!)

[highlander_UW]

Albany’s budgets, he observed, increasingly employ “fiscal manipulations” to present a “distorted view of the State’s finances.” Money shuffled among accounts to hide deficits, loans made by the state to itself, and other maneuvers Mr. DiNapoli called a “fiscal shell game” are meant to “mask the true magnitude of the State’s structural budget deficit.”

When businesses do that it's a crime.

[Lancey Howard]

Very nicely written. Great post. Good find.

[Lancey Howard]

The biggest problem for taxpayers is that there is nobody - - and I mean NOBODY - - who will do anything about all the brazen fraud and corruption. What, government "investigators" who have their snouts in the same public trough as the corrupt politicians and public employee unions are going to investigate and prosecute the corrupt fraudsters who sign their paychecks?

Right.

Meanwhile, New Jersey compounded its woes with other ploys. In 2004, the state broke the cardinal rule of municipal budgeting when it borrowed nearly $2 billion to close a budget deficit, which is like borrowing on your credit card to pay off your mortgage. (The state supreme court ruled this move unconstitutional but allowed it to go forward anyway because it didn’t want to “disrupt” government operations.)

This should tell anybody all they need to know.

[Carry_Okie]

Last week, however, the Securities and Exchange Commission (SEC) filed fraud charges against New Jersey for misrepresenting its financial obligations, particularly its pension obligations, and misleading investors in its bonds. New York—and many other states—had better sit up and take notice.

A direct attack by the Obama administration on Christie for the crime of being effective.

[Vaduz]

It sounds like a question Obama&Co. are asking.

[Lancey Howard]

BUMP!