Posted on 07/10/2022 9:24:26 AM PDT by E. Pluribus Unum
Government cannot do anything right. We need to stand strong and refuse any bailouts. Bailouts just dig the hole deeper and in a short amount of time they are in arrears again. The solution is simple. Start shuttering massive parts of government so government can pay its bills. It will force lazy ass government employees into the private sector where can actually build something, be productive members of society and have some dignity. People who work for a living should be the last to feel any pain. Make the people responsible for this mess feel the pain first - lazy ass government employees.
Not sure this is the best way to view the issue. A state that is growing and has a growing large tax base is not in the same position as a state that is shrinking and has a shrinking population and business tax base. Illinois is not the same as Texas. Illinois can’t possibly pay its dept now or in the future no matter how austere their policies get.
And California may be in the most trouble of all. Their business tax base is vast. But it is leaving quickly to states like Texas. And with a 12% state income tax plus every other tax known to man, companies almost have to leave. And their employees are leaving before them. Their surplus will disappear if the stock market does not continually go up and if companies continue to move to Texas. California will find it impossible to lower their taxing or their spending down.
California got some $50 billion in “Covid relief” payments from the federal government.
It will have to be stopped. The federal gov’t will owe so much that they can’t even meet the interest on the debt. So no help for states there. States will have to renege on their contracts. Cap benefits, means test them, whatever it takes. It’ll happen sooner or later.
Whats after a trillion ?
State insolvency (or de facto bankruptcy) would be a wonderful thing
Many Republicans believe - we’ll just vote the right people into office, and they will fix spending and administration problem! How has that worked out over the last 50 years?
Progressive social engineering and top-down leftist bureaucratic control only exist due to fake, printed, fiat money and the debt creation it allows. Progressives took over Fed.gov with the creation of the Federal Reserve. FDR entrenched them, and they took total control when Nixon took the US off the gold standard.
They are parasites who will eventually kill the host with debt.
BUT-—NEWSOM keeps reporting that Calif is over $160 Billion in the black.
LIARS-—ALL OF THEM.
Thinning the costs of old and old public employees. Pretty good motive for unleashing covid and death “vaccines” upon the world. It seems like the goal is to kill off western people. You notice the 3rd world is taking the vaccine and don’t catch covid as they eat hydroxychloroquine and ivermectin like candy. I guess the elite want to eliminate trouble makers and keep the rest as their slaves.
Legacy US citizens are the new N-words.
And for all those employees covered by 401k plans, there is no unfunded liability for the employer, public or private.
I think the number stated for CA was low, probably by an order of magnitude.
Doesn’t it cost a lot of money to keep Austin weird?
It will be payback for California supporting oklahoma for decades. Yes it’s true California sends more to the federal government then any state and receives very little back. As much as I can’t stand California politics, the state is supporting quite a few poor southern and middle state that struggle on their own.
Surprised to see Texas on this list and I would've thought my home state of Kentucky would be a slam-dump to be on it.
Not Texas.
Not Texas.
When Illinois fails it should be sold off to surrounding states that manage their money and cities better. Just let the State die...Indiana will take some... maybe even Florida will buy some of the farmland. Same with California - I'm sure Northern California is ready to get outta Dodge...
There's no reason to give the same folks in Illinois more money to throw away. ------------------------------------------------ With 278,475 regulatory restrictions and requirements — double the national average — Illinois has the third most heavily regulated environment in the country.
from link:
https://www.washingtonpost.com/opinions/2022/06/22/caterpillar-leaves-illinois/ Boeing Caterpillar Citadel
Illinois has an extremely generous pension plan -— they put in double whatever the employee puts in. I have a cousin who is retired and benefiting from it, plus a dil who, if its still paying out, will benefit from it in several years. Both of these women are all about working hard and producing high quality work; no slouching off with them. The one, A health department restaurant inspector, was actually told to ease up, or there wouldn’t be any restaurants open at all. My daughter in law has given many hours of her own time to counseling messed up high schoolers, once spending 3 hours after school had ended, to stay with a suicidal girl, until her parents could be reached, and provisions for hospitalization had all been coordinated and set up. Both of these women deserve their pension; they have no control how much the State agrees to pay.
It is so wonderful that Illinois taxpayers are forced to be so generous to your family.
In California the taxpayers must pay for the big pensions for the retired state workers if the state comes up short.
The 20 cents to 25 cents a kw is not because of the actual cost of making energy but to hide the big payouts for pensions. Same goes for much of the gas taxes. Lottery suppose to add to the state school funding but the democrats steal the money and the schools are short changed as are the kids.
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