Giving Financially Mismanaged States a Bailout Is Morally Reprehensible

[Doc7505]

Giving Financially Mismanaged States a Bailout Is Morally Reprehensible​

Giving Financially Mismanaged States a Bailout Is Morally Reprehensible

townhall.com

29 Apr 2020 ~~ By Jeff Webb
“Never let a crisis go to waste.” Those now infamous words ring as true, maybe truer, today than ever before and the current crisis is no exception. In the wake of the coronavirus pandemic, Americans are witnessing a new epidemic emerge—an epidemic of middle-class theft. Politicians in states that have been fiscally irresponsible for decades, amassing massive levels of debt and unfunded liabilities are coming hat in hand to the federal government—to you, the middle-class taxpayer—in an attempt to exploit our current health crisis to solve their financial mismanagement.
Such exploitation rightfully begs the question: why should the taxpayers of fiscally responsible states be forced by the federal government to bail out the states who failed, in many cases for decades on end, to wisely and responsibly manage their finances?
In fact, the systemic mismanagement of state finances by many, arguably most states, dates to well prior to the current health crisis and is not limited to merely pension fund obligations. Let’s take a look at the financial stewardship of the four states referenced above:

Illinois: Current debt $165 billion​

New York: Current debt $349 billion​

New Jersey: Current debt $95 billion​

Michigan: Current debt $73 billion​

Each of these states, along with many others, was running budget deficits prior to the coronavirus. So, again, we are forced to ask the question: why should the taxpayers of fiscally responsible states be forced to clean up the mess and foot the bill for the fiscally irresponsible ones?
As Washington gets ready to look at yet another round of coronavirus relief and with the U.S. national debt rapidly approaching $30 trillion, Congress must reject any notion that the citizens of another state should be forced to bailout the irresponsibility of another. Failure to do so will result in yet another unfair financial burden being redistributed to today’s middle class and tomorrow’s children and grandchildren.

Comment:
It is pretty obvious to me that the next time the PMS/DSA Democrats grab power in the US, they will bail out the Blue States that have failed to control spending, pension plans, and address their fiscal problems through anything other than higher taxes.
In fact, there is a decent chance they will pass a living wage and other big ticket dreams as part of the “Green New Deal” along with draconian environmental taxes, regulation, and restrictions that will kill a significant number of jobs.
Will our nation allow this?
Sadly, after observing events in the last month I have changed my answer to the unthinkable. On top of that, they will gut the military and bow down to the UN once again and pay homage to China.
When do the citizens of America call a halt to taxation they just can't afford. When our family budget is tight, we have to make decisions about what we will do without to pay for the necessities. Shame we didn't get that balanced budget amendment prior to this happening. I think government pension/retirement systems would be a good place to start. As a public servant you were elected to serve, not be set on a throne the rest of your life. We have to start thinking term limits for those we elect.

 

[ABikerSailor]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

 

[g5000]

Giving Financially Mismanaged States a Bailout Is Morally Reprehensible​

Giving Financially Mismanaged States a Bailout Is Morally Reprehensible

townhall.com

29 Apr 2020 ~~ By Jeff Webb
“Never let a crisis go to waste.” Those now infamous words ring as true, maybe truer, today than ever before and the current crisis is no exception. In the wake of the coronavirus pandemic, Americans are witnessing a new epidemic emerge—an epidemic of middle-class theft. Politicians in states that have been fiscally irresponsible for decades, amassing massive levels of debt and unfunded liabilities are coming hat in hand to the federal government—to you, the middle-class taxpayer—in an attempt to exploit our current health crisis to solve their financial mismanagement.
Such exploitation rightfully begs the question: why should the taxpayers of fiscally responsible states be forced by the federal government to bail out the states who failed, in many cases for decades on end, to wisely and responsibly manage their finances?
In fact, the systemic mismanagement of state finances by many, arguably most states, dates to well prior to the current health crisis and is not limited to merely pension fund obligations. Let’s take a look at the financial stewardship of the four states referenced above:

Illinois: Current debt $165 billion​

New York: Current debt $349 billion​

New Jersey: Current debt $95 billion​

Michigan: Current debt $73 billion​

Each of these states, along with many others, was running budget deficits prior to the coronavirus. So, again, we are forced to ask the question: why should the taxpayers of fiscally responsible states be forced to clean up the mess and foot the bill for the fiscally irresponsible ones?
As Washington gets ready to look at yet another round of coronavirus relief and with the U.S. national debt rapidly approaching $30 trillion, Congress must reject any notion that the citizens of another state should be forced to bailout the irresponsibility of another. Failure to do so will result in yet another unfair financial burden being redistributed to today’s middle class and tomorrow’s children and grandchildren.

Comment:
It is pretty obvious to me that the next time the PMS/DSA Democrats grab power in the US, they will bail out the Blue States that have failed to control spending, pension plans, and address their fiscal problems through anything other than higher taxes.
In fact, there is a decent chance they will pass a living wage and other big ticket dreams as part of the “Green New Deal” along with draconian environmental taxes, regulation, and restrictions that will kill a significant number of jobs.
Will our nation allow this?
Sadly, after observing events in the last month I have changed my answer to the unthinkable. On top of that, they will gut the military and bow down to the UN once again and pay homage to China.
When do the citizens of America call a halt to taxation they just can't afford. When our family budget is tight, we have to make decisions about what we will do without to pay for the necessities. Shame we didn't get that balanced budget amendment prior to this happening. I think government pension/retirement systems would be a good place to start. As a public servant you were elected to serve, not be set on a throne the rest of your life. We have to start thinking term limits for those we elect.

I find it hilarious that Trump can run up $3 trillion of debt BEFORE the plague hit, and not a single fucking word out of any of you in that whole time.

And now you raging hypocrites are whining about financial mismanagement? Really?

How DO you stand the stench of your own hypocrisy?!?

 

[Thunk]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

What a crock!

Why should I pay for anybody elses financial mismanagement?

I don't even live in california or NY or shitcago...and all 50 states are supposed to pay for THEIR pensions? To hell with that noise!

Why was NY so unprepared for this pandemic? Why no extra ventilators or masks or gowns?

Because they'll let their own people die before spending their own money...THAT'S WHY! Let a few million die & the fed-gov will pay for it.

But when the fed-gov pays for it...all 50 states pay for it!

 

[Oddball]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

What a crock!

Why should I pay for anybody elses financial mismanagement?

I don't even live in california or NY or shitcago...and all 50 states are supposed to pay for THEIR pensions? To hell with that noise!

Why was NY so unprepared for this pandemic? Why no extra ventilators or masks or gowns?

Because they'll let their own people die before spending their own money...THAT'S WHY! Let a few million die & the fed-gov will pay for it.

But when the fed-gov pays for it...all 50 states pay for it!

You don't think that the facts are going to get in the way of a little faux righteuos moralizing and finger wagging from the liberoids, do ya?

 

[HereWeGoAgain]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

Did your state piss away its money?
I dont think so.

 

[Fort Fun Indiana]

So, again, we are forced to ask the question: why should the taxpayers of fiscally responsible states be forced to clean up the mess and foot the bill for the fiscally irresponsible ones?

For the same reason that the Blue States support the Red welfare States every single year: for the benefit of the people of the union.

Well that was a softball question. Sorry I destroyed your thread so quickly.

 

[Tax Man]

What is truely morally reprehensible is to have republicans in charge of states supported by liberal ones.

 

[lantern2814]

So, again, we are forced to ask the question: why should the taxpayers of fiscally responsible states be forced to clean up the mess and foot the bill for the fiscally irresponsible ones?

For the same reason that the Blue States support the Red welfare States every single year: for the benefit of the people of the union.

Well that was a softball question. Sorry I destroyed your thread so quickly.

Poor liar. Thanks to the SALT deductions that Trump put the brakes on, your retarded blue staters were getting subsidized by the Red states EVERY tax season. If your blue states are such huge economic engines, why are they crying for bailouts? Well, destroying you was easy as ever.

 

[occupied]

Before this is over all the states will line up for some relief.

 

[Rye Catcher]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

The motto of a Faux Conservative is this: I (or we) got ours, fuck the rest of you.

 

[Billy_Kinetta]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

Constitutionally, states are akin to sovereign countries. When they choose bad leaders, it's on them.

 

[Thunk]

What is truely morally reprehensible is to have republicans in charge of states supported by liberal ones.

What is truly morally reprehensible is you don't pay for all of Minnesotas snow plows and road salt!

Don't you think it's about time to PAY YOUR FAIR SHARE?

 

[Thunk]

Before this is over all the states will line up for some relief.

That will be all 50 states paying for all 50 states.

That doesn't work!

If they print it...then we all pay for it thru inflation.

 

[Rye Catcher]

What is truely morally reprehensible is to have republicans in charge of states supported by liberal ones.

What is truly morally reprehensible is you don't pay for all of Minnesotas snow plows and road salt!

Don't you think it's about time to PAY YOUR FAIR SHARE?

S1: Idiot-Gram, Variety, Ignorance of Revenue Sharing.

S2: Blue States (generally) pay more to the Federal Treasury, than they receive in Revenue Sharing.

 

[ReinyDays]

I think this should depend on what the debt is for ... and give consideration to States that don't run annual deficits ... that's strictly illegal here in Oregon, if operational funds run out before the new fiscal year, we shut down government ... or usually shut down parts of government so essential services continue ... school furlough days, shutting courts down on Mondays ... whatever it takes to make budget ... so there's no deficit at the end of the fiscal year ...

We do issue bonds ... and these have to be voter approved ... a big one right now is replacing about 2/3's of our crumbing bridges, and this is being paid off through higher DMV fees (it's the motor vehicles who need the bridges) ... school districts issue bonds to build new schools through a property tax levy ... and these bonds are very specific, any money left over has to be used to help pay off the debt, it can't be switch-a-roo'ed to some pedophiles' pet project ...

[holds out moist palm] ... whaddya say ... a cool trillion will keep the sidewalks clear of human waste ...

 

[Rye Catcher]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

Constitutionally. states are akin to sovereign countries. When they choose bad leaders, it's on them.

Yet those who didn't vote for the bad leader, still suffer. I didn't vote for the lousy leader in the White House, and yet my family suffers from that moron.

 

[occupied]

Before this is over all the states will line up for some relief.

That will be all 50 states paying for all 50 states.

That doesn't work!

If they print it...then we all pay for it thru inflation.

Inflation is worrying you? Inflation is nothing compared to deflation where an economy suffers a severe liquidity crisis. Dollars must flow through the economy no matter what.

 

[Billy_Kinetta]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

Constitutionally. states are akin to sovereign countries. When they choose bad leaders, it's on them.

Yet those who didn't vote for the bad leader, still suffer. I didn't vote for the lousy leader in the White House, and yet my family suffers from that moron.

Not us. We're having a grand time.

 

[Rye Catcher]

So, you don't want to have the United States of America, you just want States Conservatives Approve of in America, and tell the rest of the country to go to hell. Ain't much of a patriot, are you?

Constitutionally. states are akin to sovereign countries. When they choose bad leaders, it's on them.

Yet those who didn't vote for the bad leader, still suffer. I didn't vote for the lousy leader in the White House, and yet my family suffers from that moron.

Not us. We're having a grand time.

Really? What's grand about Donald Trump's leadership? He is the President, and he is an embarrassment to me and my family. He is mentally ill, and is decompensating every day on live TV. You find this grand?