Skip to comments.A Blue-State Bailout in Disguise (Analysis of Hussein's Porkulus II)
Posted on 09/15/2011 11:48:03 AM PDT by Recovering_Democrat
Our new study shows that under the Obama jobs bill, debt-ridden states will get another big handout.
Last Thursday, the president urged Congress to pony up roughly $200 billion in taxpayer money to "provide more jobs for teachers [and] more jobs for construction workers" and more money to carry out other state and local activities. He urges Congress to spend this money even after handing out hundreds of billions of dollars for similar purposes as part of the 2009 stimulus package, as well as a score and more billion dollars again in 2010.
These vast contributions to the coffers of state and local governments, though pitched as a jobs bill, are in reality the latest in a series of bailouts for debt-ridden state and local governments. They are of special benefit to states in the blue regions of the country where the president's most fervent supporters reside.
In many blue states, legislators have copied the politicians in Washington by running up state debts to extraordinary levels. Nationwide, state debt is running around $3 trillion. If unfunded pension liabilities are factored in, estimated liabilities leap forward by another $1 trillion to $3 trillion, depending on the optimism of the assumptions made.
(Excerpt) Read more at online.wsj.com ...
It’s called “The buying of the Oval Office”. Or “The buying of the electoral college”.
I’m sure there is, like in EVERY other policy of 0bama’s, a race based wealth transfer as well.
Rush just said the 26 billion CA got to hire more teachers went right into their pension fund....no new teachers
Wonder if all American taxpayers together could file a class action suit against California to give back the money?
That would be nice. They were considered “jobs saved” since the Unions wouldn’t give any consessions on the benefits they figure they would have had to lay off people if they didn’t get the stimulas.