Skip to comments.Mounting State Debts Stoke Fears of a Looming Crisis
Posted on 12/04/2010 9:23:34 PM PST by Nachum
The State of Illinois is still paying off billions in bills that it got from schools and social service providers last year. Arizona recently stopped paying for certain organ transplants for people in its Medicaid program. States are releasing prisoners early, more to cut expenses than to reward good behavior. And in Newark, the city laid off 13 percent of its police officers last week. While next year could be even worse, there are bigger, longer-term risks, financial analysts say. Their fear is that even when the economy recovers, the shortfalls will not disappear
(Excerpt) Read more at nytimes.com ...
Unions, illegals and bloated bureaucracies...and unending taxation, regulation and fees to hinder business.
Reap the rewards, LibCommies.
The sooner we hit bottom the less severe it will be. I hope it happens next year.
Can’t speak for those other states, but the looney left in CA honestly believe that were it not for our 2/3 majority vote requirement to raise taxes, all our budget problems would go away.
The scariest thing for the Democrat communists is that state government shuts down - - and normal, traditional, taxpaying American families don’t notice.
Who says there’s going to be a recovery? In fact, in the context of norms and the illusory GDP numbers reported, we’re approaching “due” for the next smash.
I just helped a friend come back from a public school auction. He bought, what he can sell for 20 grand, for five hundred. Replacement cost is near fifty grand. Obviously the schools are broke. /sarcasm. ( They couldn’t find their arse if their life depended upon it. )
Some of the stuff. A first year Hobart slicer( sold at Southerbys for 2 grand ). A baby grand piano. Two diesel generators, one with 100 hrs on. Two pick up loads of art supplies. One 2 grad fridge. 4, double door convection ovens. All that and a couple of box trucks more. Total cost, $500. Oh, and a two truck loads of heavy ornamental oak doors for five dollar apiece. Lastly, there is the school itself, a metrosexual, urbanista, retro wet dream. To be torn down so the local hack contractors and construction union thugs can rape the local taxpayers.
The communists have finally run out of other people’s money.
2011 could be very ugly.
I went to your page to see what state you are from. Two things;
1. No wonder.
2. That was one of my favorite Twilight Zone episodes.
Gee, could those non-disappearing shortfalls have anything to do with these states (mine included) not cutting their spending by even a dollar?
The Password is: Monopoly
I just came up with an antidote to what ails us: Government Competition.
If Govt. A screws up, switch to Government B. Don't like the taxes imposed by Govt. A, file your taxes with Govt. B. Roads suck? Pay Govt. A for road work. Schools suck? Pay Govt. B to fire idiots hired by Govt. A.
Of course this couldn't happen (without an ammendment) and the States were to have been 'Govt. B' in most cases, but we know how the Constitution has been gutted, so, we're stuck with Govt. A whether we like it or not.
Competition really works. It doesn't even take a genius to see it's benefits. Right now, we have ONE BIG government- the Feds+States. What we should have is: Govt. A = Feds, Govt. B =States.
In an even better system, you'd have Govt. C = The People. Maybe someday some Framers will come along and propose such a system but for now, may the boot of the State rest gently on your neck and may the fate of your nation take a turn for the better. Bankruptcy could be a blessing in disguise. The sooner, the better. My neck is getting sore.
“If Govt. A screws up, switch to Government B. Don’t like the taxes imposed by Govt. A, file your taxes with Govt. B. Roads suck? Pay Govt. A for road work. Schools suck? Pay Govt. B to fire idiots hired by Govt. A.”
The opportunity to fire the government comes every two years the first week in November. This year the people fired the House and kept the Senate.
Headline: Looming Crisis, in the works for a generation, JUST NOTICED BY THE NY TIMES.
The school was in Woonsocket, Rhode Island. The auction was yesterday, the was piles more stuff that retro urbanistas love, like fifty pull down, old maps, science body parts. An designers wet dream of a old function score board. ( That is presold to a bar for a grand ). Industrial floor fans that go for a grand each. And entire trade school wood working shop with industrial plainers, lathes, and truck loads of pine,oak( He didn’t bid on that, it will most likely go for scrap. Nice, eh? College is now being revealed as the rip off it is, and we need skill trades, and the stuff goes to China for dirt money ) He got it all he got so cheap because he right then and there sold off the diesel generators to two guys that didn’t want to bid on the other stuff that came with it.
I mean, who couldn’t of looked this stuff up on ebay? Woonsocket is a busted out broke town. We are being killed as citizens and the killer is government.
Where are sales like this posted?
The biggest problem they have with the world is any kind of limitation on their spending.
Government A screws up, you move to government B. However Fedgov, bails out Gov A, and fed taxes one way or another Gov B, because they didn’t screw up.
No different they you mowing your lawn, paying your bills so the town/county/state can deliverer it to the welfare screw ups across town who are living in Section 8, food stamps, full disability.
If no one want to pay, or won’t anymore( which is were we are at, as near HALF of all this years Federal spending is.....borrowed. Borrowed because if they raise the rates, their will be civil war. ) Soooooooooo.......Fed Gov mini-Me, the Federal Reserve, the Fannie Mae/Freddy Mac of Money printing just prints( yeah, I know )money and indirectly taxing us via destruction of the value of money, savings returns below inflation and taxation.
Call any of the local auction houses around you.
They get paid a percentage of the returns, so they are incetivized to attract as many bidders as possible. They want you there.
Many have email list you can get on.
Be prepared though for the opportunity. You need a place to store it. Often you need to take it right then and there. So see if you can find a box truck. A lot of the ones we go to are industrial type auctions, we want the small stuff, which scrap and industrial guys do not. They are often mixed in, on purpose, the junk with the good, just to get rid of it. So team up with someone, like my friend did( I wish he kept the generators, but he doesn’t know squat about them )
Have money, a truck, place to store, be flexible, have a drive, get lunch, and in this case see the busting out of, sell out, of a once great nations artifacts.
Thanks, I signed up with an e-mail auction service yesterday
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