Republicans Have Forsaken Any Claim to "Fiscal Responsibility"

Discussion in 'Politics' started by Flaylo, Dec 17, 2010.

  1. Flaylo
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    Flaylo Handsome Devil

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  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    And I care what a marxist revolutionary claims, because?
     
  3. Revere
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    Revere BANNED

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    Behind every insolvent city or state is a union.
     
  4. PoliticalChic
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    PoliticalChic Diamond Member

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  5. PoliticalChic
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    PoliticalChic Diamond Member

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    . State, unlike federal, budgets, cannot run as deficits. “Virtually all states have balanced budget requirements, so they must take actions to close these deficits.” (State Budget Deficits for Fiscal Year 2004 are Huge and Growing, Revised 1/23/03) So, what to do? Simple: conjecture a better world!

    a. In 2008, states reported that their public-employee pensions were underfunded by a total of $438 billion. But independent estimates say the underfunding is closer to $3 trillion. Why? The states make up estimates of return at unbelievable levels: the median investment return factored in by state pensions is 8% a year! AEI - The Market Value of Public-Sector Pension Deficits

    b. “The official state estimate in underfunded pension liabilities to New Jersey’s public workers stands at $46 billion. It is one of the highest liabilities in the nation, averaging $5,200 per capita. The estimate is based on an assumed rate of return on pension assets of 8.25 percent –“
    National Taxpayers Union - Overvalued and Underfunded: New Jersey?s Pension Time Bomb

    c. Now, what happens if the state cannot pay the pensions? Taxpayers are legally obligated to make up any difference between what’s been promised and what can actually be paid. Pension Pulse: Pension Woes May Deepen Financial Crisis
     
  6. rdean
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    rdean Guest

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    Those darn Democrats. Helping people to put away money for their old age. Helping people own "homes". "Helping people".

    Republicans help 1.7% of the top income earners. I guess they feel "quality above quantity". For Republicans, only "rich people" matter. Everyone else? Not so much.
     
  7. California Girl
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    California Girl BANNED

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    Fail&Won'tGo announced his departure from the board over a month ago... he has forsaken any claim to credibility.... Not that he had any credibility.... continual links to HuffyPuffy tend to kill a person's credibility anyway.

    Double fail for Fail&Won'tGo.
     
  8. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    You forgot:
    2003 Medicare Part D
    2003 Invasion of Iraq or Tax Cuts while involved in two wars (your choice)
    2008 TARP
     
  9. NYcarbineer
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    NYcarbineer Diamond Member

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    All those programs were paid for until the Reagan revolution began the tax cut death spiral.
     
  10. NYcarbineer
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    NYcarbineer Diamond Member

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    Of course she forgot. She's a partisan hack with a gargantuan contempt for facts.

    She left out the disaster of Reaganomics that is what started us down this trail of doom.
     

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