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Title: Illinois Failures Go Nationwide Under Obama
Source:
Investors Daily
URL Source: http://www.investors.com/NewsAndAna ... Go-Nationwide-Under-Obama.aspx
Published: Jul 20, 2010
Author: Phyllis Schlafly
Post Date: 2010-07-20 15:50:02 by Badeye
Keywords: None
Views: 17381
Comments: 27
Illinois Failures Go Nationwide Under Obama By PHYLLIS SCHLAFLY Posted 07/19/2010 07:05 PM ET View Enlarged Image 'Unsustainable" is a scary word that recently entered political discourse, coming authoritatively from Congressional Budget Office Director Douglas Elmendorf. Unsustainability is the operative moniker for Barack Obama's massive deficit spending, which Elmendorf said "cannot be solved through minor tinkering." The CBO predicts an increase in our public debt from $7.5 trillion at the end of 2009 to $20.3 trillion at the end of 2020 if Obama's fiscal 2011 budget is implemented. As a percentage of gross domestic product, the debt will rise to 90% from 53%. Sen. Kent Conrad, D-N.D., sharpened the focus by asking the CBO director: "What's going to be necessary (is) either a 25% increase in taxes or a 20% reduction in spending, or some combination thereof. Is that correct?" Elmendorf replied "yes." Americans are beginning to wonder if Greece is the picture of the U.S.' future. But we need look no further than the place where Obama and his team were trained in community organizing and bully tactics to redistribute the wealth: Illinois. Illinois was the stomping ground for years for Obama, his top advisers Rahm Emanuel, Valerie Jarrett and David Axelrod, and his appointees such as Secretary of Education Arne Duncan. After they promoted themselves to Washington to run the country, other Obama associates who didn't make the cut continued to run Illinois into the ground, as the Illinois unemployment rate jumped from less than 5% to nearly 11%. For years, we thought California was the most fiscally irresponsible of all 50 states, but Illinois has now taken the lead. A lengthy news article in the New York Times was headlined: "Illinois Stops Paying Its Bills, but Can't Stop Digging Hole." Under years of Democratic leadership, Illinois has refused to honor its obligations, cut spending or trim its shockingly large deficit, which at $12 billion per year approaches nearly half its budget. As a result, Illinois' credit rating has been downgraded and it pays a massive amount in interest on its loans. That's like a family making $50,000 but spending $75,000 each year. Obviously, it won't take long before such a family would lose everything it has. The big-majority Democratic state legislature, defying Illinois' balanced-budget law, has been passing deficit budgets for years. The new definition of a liberal is no longer tax-and-spend; it's borrow-and-spend. It's no surprise that unemployment keeps increasing, and the reason why the rate isn't higher than we are told is that the government has stopped counting people who have given up looking for a job. Employers are not hiring because taxes and regulations are expected to rise
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Begin Trace Mode for Comment # 16.
#1. To: Badeye (#0)
(Edited)
Here are the states with the biggest 2011 deficits, the deficit as a percentage of state spending, and the party of the chief executive: Nevada - 54% - R 5 Republicans, 2 Democrats. And you keep arguing that we would be better off if we had more Republicans in charge? Source: http://www.cbpp.org/cms/?fa=view&id=711 Oh, and Tim Pawlenty's state has a 26% shortfall.
The Obese Head of NJ just got the news that he's already in deficit by $10.5bln for next year. There's nothing left to cut...except his waistline.
BRAVO!!! It's about time that we had a leader with the cajones to stand up to leeches and parasites that feed off of our tax money. Cut them ALL off.
Yea...well...unless Fat Boy's ready to start closing schools and putting seniors out on the street, he doesn't have much choice. While that may be popular with you, it's already causing him popularity issues. And with Boomers getting ready to retire, he's sitting on a pension time bomb - thanks to another Christie...Todd Whitman...
Typical left-wing hyper-boil designed to halt all discussion of reform. New Jersey spends $2.3 billion a year on schools and a WHOPPING $3.5 billion a year on pensions for bureaucrats. Most Americans don't have pensions. I certainly don't. We save our own money for retirements in IRAs, 401Ks, etc. WHY IN THE HELL should we be forced to jeopardize our future to pay pensions to lazy bureaucrats??? Eliminate their pensions and New Jersey will save $3.5 billion a year. If the bureaucrats don't like it, FIRE THEM. There are plenty of unemployed people who would love to have their jobs even without a pension.
I live next yo NJ. My kid goes to school in NJ. I work with a good snick of people from NJ. This isn't hyperbole. It's what's what. New Jersey spends $2.3 billion a year on schools and WHOPPING $3.5 billion a year on pensions for bureaucrats. Arts, science and education should be the number one priority of any society. History bears out that the nations which emphasized these thrived. History has shown that nations which de-emphasized their importance failed. As for the pensions:
Your statement has nothing to do with bloated bureacrat pensions, which cost almost 50% more than education in New Jersey. Yes, science and education should be the number one priority of society but government control is destroying both, to the detriment of society. The government monopoly schools are already a failure because they are a near monopoly run by corrupt politicians and moronic bureaucrats. Unfortunately, government funding is politicizing science too, as we've seen with the global warming scam.
#18. To: jwpegler (#16)
The best thing that happened to this nation was public schools. The worst thing that happened was that morons turned them into a political football, Dems turned them into a social petrie dish and 'pubes have tried to turn them into churches and 4th of July parades. Global warming is real, btw. Ask any Inuit or Greenlander.
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Illinois - 42% - D
New Jersey - 38% - R
Arizona 37% - R
Maine 35%- D
North Carolina - 30% - R
Vermont - 30% - R
#10. To: go65 (#1)
(Edited)
#11. To: war (#10)
"New Jersey doesn't have a revenue problem, it has a spending problem and it is not our intention to tax our way out of this problem," Christie's spokesman Michael Drewniak said in an interview today.
#12. To: jwpegler (#11)
#13. To: war (#12)
(Edited)
Yea...well...unless Fat Boy's ready to start closing schools and putting seniors out on the street
#14. To: jwpegler (#13)
Typical left-wing hyper-boil designed to halt all discussion of reform.
#16. To: war (#14)
Arts, science and education should be the number one priority of any society.
Replies to Comment # 16.
End Trace Mode for Comment # 16.
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