Wednesday, December 17, 2008

Insane Spending

How many of you live in California or New York? Of those who do not, how many of you like your tax dollars going to bail out these states? Presently, I live in Florida and do not like the idea of any of my money going to either of those two states. My feeling is "let them suffer".

It is no secret that those two states are some of the most liberal in the country. I am amazed that a Republican could get elected governor in New York (I dont consider the governor of California to be a Republican just because there is a "R" next to his name). Their legislatures repeatedly vote for more spending in spite of gorwing deficits. California has teetered on the edge of bankruptcy for years. Now, they need Federal money to bail them out. Screw them. Go hit up all the Hollywood types. Let Schwarzenegger make another Terminator movie and give the hundreds of millions in proceeds to the state. Their debt is not my problem.

We have become bailout happy. What ever happened to personal responsibility? I guess that is a dead animal in this world. For the last few years, states spend like drunken sailors (as did the Feds) and now they are suffering because revenues are down. Sorry, but it is time they got themselves out of the hole they dug. Let them cut services that they promised along the way. It seems that no politician is willing to admit he/she cannot afford something. The government is the only entity that does that. How about massive layoffs of government personnel? If private companies can lay off thousands to ensure their solvency, why can't these states follow suit?

Perhaps you noticed the governor's solution in New York. He proposed a budget that implemented 80 new taxes (New York is already one of the highest taxed states). This is a necessary move along with spending cuts to avert a $50 billion deficit in the future. What gets me about his deal is that in spite of this, spending still increases 1+%. The idea of "we cannot afford all this" is still not registering. If you running a serious deficit, it is time to seriously cut spending. I fail to see how increasing the total budget is going to avert future disaster. It is not.

One thing about the government, they always go contrary to fundamental principles. Only a government entity could expect to reduce its deficit by still incurring more expenses. That is like you expecting to pay off your credit cards while still senseless using them. Even with a second job, if you spend more than you take in, you will fall further behind. Yet, it seems this does not apply in this situation. Once again, let some of those rich New Yorkers who support these bozos pay for their mishaps. Why should I fund them? I didn't vote for them.

Someday soon the country will wake up. Here is a 411 for you: we are broke. If the nation was a corporation, we would be in Chapter 11 at a minimum (more likely Chapter 7). The fact that the printing press is running around the clock will come back to haunt us. Inflation is going to jump up to the levels of Jimmy Carter. However, this time I do not see us pulling out of it. We are in too deep and the entitlement mentality is too ingrained. Serious pain needs to be felt by this country.

It is coming. Get ready.

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