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  • Bail Outs – Who’s Next? The States!

    by Founder on December 30, 2008

    in Current Politics, Government, Money/Finance, Voice of the People

    Wall Street, the Banks, Insurance giants, the Mortgage Industry and now the Auto Industry – who is next? There will be other industries who ask for bail outs but right now the ones with their hands out to the government are – the states. Let’s look at one state in particular and analyze their situation.

    As the economy sputters and tax revenues are decreasing – the country’s Governors and Mayors are lining up to ask the government for their bail out. They will be and are, asking for hundreds of billions in tax dollars to come to the rescue of their incredibly large budget deficits. What a coincidence, the Federal government has a massive debt and the States have massive debt – do I detect a spending problem here?

    The main argument by the states will be that there is no other way. Services will suffer and jobless rates will rise if Washington does not come to their rescue – and now. Does this sound familiar? This is the same line Paulson gave to the American people before getting his $750 Billion in bail out money (for his buddies on Wall Street). He said that America must act now or else the country’s economy will collapse. Do you really believe that would have happened if we did not allow them to print their money?

    Let’s look at Ohio. They have slashed 100,000 jobs this year. Maybe they had way too many to begin with? Government was growing needlessly out of control? Obviously. Their Governor, Ted Strickland (D), has cut $640 Million from their overinflated budget as of June 30, 2008 and almost $1.9 Billion since the economic crisis began. They have a budget dficit of $7.3 Billion! Nice job Ohio.

    What kind of utter, irresponsible spending is this? This is ridiculous, stupid and embarrassing. They have spent $7.3 Billion more than they have brought in – what kind of fools would do this? And why should they be bailed out by average, hard working Americans – who had nothing to do with it?! This is the exact same type of irresponsibility that is practiced within our Federal government – which is why they will be sympathetic to each and every state’s appeal.

    It is reported that Strickland recently called his college buddy, Rahm Emanuel, and asked him for $5 Billion! Strickland reportedly said “Rahm, you’ve never failed me before and I need $5 Billion”. What does this sound like to you? Does it sound like an addict calling his dealer and asking for more? What’s the difference? These politicians are addicted to spending just like a junkie is addicted to their drugs. It’s out of control and an intervention is needed!

    In the 2007 budget year, Ohio’s Medicaid costs accounted for 24% of their budget or $4.3 Billion! So what is our new President elect going to do about all this? Well, he is angling for a few things like:

    • A $250 Billion increase in federal spending for food stamps and Medicaid and of course Medicaid is the governments program of health care for impoverished Americans and increasingly the working poor.
    • He favors an investment of at least $250 Billion for national infrastructure projects – perhaps 15,000 projects in all effecting over 600 cities and towns. How does this increase the value of our economy?

    But what’s important is that a state like Ohio is “shovel ready” for projects like roads, water and sewer improvements and “green” economy upgrades. What seems to be important is the “quick fix”. Where is all this money coming from? Who will pay these Billions and soon Trillions?

    Our government is not concerned with that right now – they only want to do what will “ease the pain”. With this thinking – the “pain” will be felt severely – in the future – how many years? I don’t know – but you cannot put a band aid on this economy – it must be allowed to bottom out before growth will occur again and our government is doing it all the wrong way. You cannot spend your way out of a recession.

    And Strickland along with a handful of other Governors will also be asking the Federal government for another $250 Billion for …… EDUCATION! That’s right people, apparently the money we are way OVERSPENDING on education right now is not enough – they want more. If our kids aren’t learning – all they ever want to do is spend more money – this is not the answer. Our politicians are clearly addicted to spending and cannot stop.

    One Ohio Financial Director said “Many of the city’s recreation centers, which provide art classes, sports, homework help, child care and senior activities may have to be cut”. Should the government be paying for these types of services and activities? – paying for them with your tax dollars? It is outrageous how far the national and state governments have stuck their nose into our daily lives. The government must STOP SPENDING, PAY DOWN THEIR DEBT and GET OUT OF OUR LIVES!

    We the People must react in a loud and aggressive way. If we do not act now – this great country will soon be gone. Gone into the hands of the greedy politicians and big business that have infiltrated every aspect of our government.

    Please stand with me, be counted and make your voice heard, today.

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