Giving Financially Mismanaged States a Bailout Is Morally Reprehensible

[Rye Catcher]

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.

Yep, dollars must flow, but first (given the faux tax bill signed by trump) it must trickle down to the many, and it never has.

 

[Doc7505]

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?

~~~~~~
Can you please point and quote to where I made that statement. Why should U.S. citizens living in West Virginia, Missouri or Tennessee be paying higher taxes to rescue the State of New York, Illinois, or California from their excesses and overspending? You were just recently crying about State rights. States don't have the legal right to demand that the Federal gov't bail them out for the mistakes and overspending individual states have incurred. Billly Kinetta is correct: "Constitutionally. states are akin to sovereign countries. When they choose bad leaders, it's on them".

 

[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.

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?

I find your reaction grand.

 

[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.

Yep, dollars must flow, but first (given the faux tax bill signed by trump) it must trickle down to the many, and it never has.

Never will. There's a reason economics is a failed science. It's not looking for truth, it's the search for a better con.

 

[Missourian]

Illinois should get zero dollars in federal bailout. You all can fight over the rest off the states... I couldn't care less...but while Missouri was fiscally responsible, Illinois pissed their money away and their finances were FUBAR long before Wuhan Virus existed.

Not one thin dime for Illinois. Never.

I'll fight tooth and nail against it.

 

[Fort Fun Indiana]

Illinois should get zero dollars in federal bailout. You all can fight over the rest off the states... I couldn't care less...but while Missouri was fiscally responsible, Illinois pissed their money away and their finances were FUBAR long before Wuhan Virus existed.

Not one thin dime for Illinois. Never.

I'll fight tooth and nail against it.

Missouri generally gets more money back than it gives to the federal government... Illinois, much less than it gives. So call it catch up for 30 years of being Illinois's welfare neighbor State.

 

[Dont Taz Me Bro]

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

Then stop supporting that every time you vote. You have nobody to blame for that but yourself

 

[candycorn]

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.

Pfft....

In the last few weeks, the "responsible" US Treasury has sent bail out monies earmarked for small businesses to Harvard University, Ruth's Chris Steakhouse, and the Los Angeles Lakers.

Additionally, if the "responsible" Treasury department is going to judge others on their debt load and call carrying a debt "irresponsible"...they have some 'splaining to do.

Right wing BS at it's finest.

 

[Thunk]

Inflation is worrying you? Inflation is nothing compared to deflation

You might as well talk about an asteroid strike...because we're about as far away from DEFLATION as we possibly can be.

 

[otto105]

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.

What a load of shit.

One has to ask how a red state like kentucky receives from the Federal government $2.50 for every dollar it sends. New York on the other hand receives just 90 cents back for each dollar.

Who is floating who...

 

[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.

What a load of shit.

One has to ask how a red state like kentucky receives from the Federal government $2.50 for every dollar it sends. New York on the other hand receives just 90 cents back for each dollar.

Who is floating who...

Wrong.... See:

Most & Least Federally Dependent States in 2024

Most & Least Federally Dependent States in 2024

wallethub.com

One big point of difference among state economies is the tax burden of the average citizen. This number varies greatly. But what are the reasons behind why some states tax their residents more or less?

If a state can afford not to tax its residents at high rates, there are multiple explanations. One is that their economic policies are sound and the state economy is doing well. But another is that the state gets disproportionately more funding from the federal government than states with harsher tax codes.

Americans have looked at federal assistance programs with growing scrutiny. Under the current administration, the number of people dependent on government assistance has decreased. Regardless of overall trends, though, it is true that some states receive a far higher return on their federal income-tax contributions than others.

Just how big is this difference? And to what extent does it change our perception of state and local tax rates around the country? WalletHub sought to answer those questions by comparing the 50 states in terms of three key metrics. Read on for our findings, commentary from a panel of experts, and a detailed explanation of our methodology.

1MAIN FINDINGS2RED VS. BLUE STATES3CORRELATION ANALYSIS
4ASK THE EXPERTS5METHODOLOGY

Main Findings

EMBED ON YOUR WEBSITE



Most Federally Dependent States

Rank (1 = Most Dependent)	State	Total Score	‘State Residents’ Dependency’ Rank	‘State Government’s Dependency’ Rank
9	Alabama	61.56	8	14
6	Alaska	67.92	7	7
7	Arizona	65.61	12	5
21	Arkansas	39.26	40	13
39	California	24.97	43	34
36	Colorado	25.66	39	36
37	Connecticut	25.31	22	43
48	Delaware	15.42	50	42
28	Florida	33.26	27	27
23	Georgia	35.21	32	18
41	Hawaii	24.65	10	50
27	Idaho	33.39	20	33
46	Illinois	18.40	48	41
8	Indiana	62.77	9	10
38	Iowa	25.30	34	37
50	Kansas	11.84	41	48
5	Kentucky	69.78	6	8
12	Louisiana	54.20	30	3
14	Maine	47.40	15	19
18	Maryland	41.82	13	31
45	Massachusetts	19.16	47	39
26	Michigan	33.52	29	23
44	Minnesota	19.75	28	46
2	Mississippi	79.41	5	4
17	Missouri	44.47	24	12
4	Montana	70.70	14	1
40	Nebraska	24.78	44	32
31	Nevada	31.37	36	29
29	New Hampshire	32.67	35	22
47	New Jersey	17.55	49	40
1	New Mexico	82.21	1	6
25	New York	33.89	46	15
35	North Carolina	27.95	31	35
13	North Dakota	53.11	2	44
32	Ohio	30.38	45	20
19	Oklahoma	41.42	19	21
24	Oregon	34.45	26	26
16	Pennsylvania	46.43	17	16
30	Rhode Island	31.49	37	25
10	South Carolina	61.31	3	30
22	South Dakota	38.59	25	17
15	Tennessee	46.90	21	11
34	Texas	30.15	42	28
49	Utah	15.23	33	47
20	Vermont	40.45	18	24
43	Virginia	23.73	11	49
42	Washington	24.18	38	38
3	West Virginia	70.70	4	9
33	Wisconsin	30.22	16	45
11	Wyoming	58.92	23	2

 

[otto105]

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.

What a load of shit.

One has to ask how a red state like kentucky receives from the Federal government $2.50 for every dollar it sends. New York on the other hand receives just 90 cents back for each dollar.

Who is floating who...

Wrong.... See:

Most & Least Federally Dependent States in 2024

Most & Least Federally Dependent States in 2024

wallethub.com

One big point of difference among state economies is the tax burden of the average citizen. This number varies greatly. But what are the reasons behind why some states tax their residents more or less?

If a state can afford not to tax its residents at high rates, there are multiple explanations. One is that their economic policies are sound and the state economy is doing well. But another is that the state gets disproportionately more funding from the federal government than states with harsher tax codes.

Americans have looked at federal assistance programs with growing scrutiny. Under the current administration, the number of people dependent on government assistance has decreased. Regardless of overall trends, though, it is true that some states receive a far higher return on their federal income-tax contributions than others.

Just how big is this difference? And to what extent does it change our perception of state and local tax rates around the country? WalletHub sought to answer those questions by comparing the 50 states in terms of three key metrics. Read on for our findings, commentary from a panel of experts, and a detailed explanation of our methodology.

1MAIN FINDINGS2RED VS. BLUE STATES3CORRELATION ANALYSIS
4ASK THE EXPERTS5METHODOLOGY

Main Findings

EMBED ON YOUR WEBSITE



Most Federally Dependent States

Rank (1 = Most Dependent)	State	Total Score	‘State Residents’ Dependency’ Rank	‘State Government’s Dependency’ Rank
9	Alabama	61.56	8	14
6	Alaska	67.92	7	7
7	Arizona	65.61	12	5
21	Arkansas	39.26	40	13
39	California	24.97	43	34
36	Colorado	25.66	39	36
37	Connecticut	25.31	22	43
48	Delaware	15.42	50	42
28	Florida	33.26	27	27
23	Georgia	35.21	32	18
41	Hawaii	24.65	10	50
27	Idaho	33.39	20	33
46	Illinois	18.40	48	41
8	Indiana	62.77	9	10
38	Iowa	25.30	34	37
50	Kansas	11.84	41	48
5	Kentucky	69.78	6	8
12	Louisiana	54.20	30	3
14	Maine	47.40	15	19
18	Maryland	41.82	13	31
45	Massachusetts	19.16	47	39
26	Michigan	33.52	29	23
44	Minnesota	19.75	28	46
2	Mississippi	79.41	5	4
17	Missouri	44.47	24	12
4	Montana	70.70	14	1
40	Nebraska	24.78	44	32
31	Nevada	31.37	36	29
29	New Hampshire	32.67	35	22
47	New Jersey	17.55	49	40
1	New Mexico	82.21	1	6
25	New York	33.89	46	15
35	North Carolina	27.95	31	35
13	North Dakota	53.11	2	44
32	Ohio	30.38	45	20
19	Oklahoma	41.42	19	21
24	Oregon	34.45	26	26
16	Pennsylvania	46.43	17	16
30	Rhode Island	31.49	37	25
10	South Carolina	61.31	3	30
22	South Dakota	38.59	25	17
15	Tennessee	46.90	21	11
34	Texas	30.15	42	28
49	Utah	15.23	33	47
20	Vermont	40.45	18	24
43	Virginia	23.73	11	49
42	Washington	24.18	38	38
3	West Virginia	70.70	4	9
33	Wisconsin	30.22	16	45
11	Wyoming	58.92	23	2

I see that 13 of the top 15 states most dependant are red, while 11 of the 15 least dependant are Blue.

 

[Doc7505]

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.

~~~~~~
New York, Illinois, Maryland and certainly California did. That's a fact Jack....

 

[Eric Arthur Blair]

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?

Thanks for your eloquent defense of Grasshopperism. You want all the rest of the United States
to come around and bail out the states that didn't save, that didn't live within their means, that didn't give a damn about managing their money wisely, that sold out to Big Public Unions and endless pensions and
democrat Ponzi schemes which is the common denominator in this all?

And worse of all you have the crass nerve to make those not down with pulling New Jersey's fat bloated ass (for instance) out of the fire of their own making the bad guys here?

You can fuck yourself just like you want to fuck responsible America now. Fuck yourself long, hard and deep
just like you want to fuck the states that didn't indulge in Grasshopper-nomics.

 

[MeBelle]

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

Damn Rye, what a lie!

Rye Catcher

Lets fess up now, shall we?

YOU GOT YOURS AND DON'T GAF ABOUT THE REST OF THE TAXPAYERS

IN THE STATE OF CALIFORNIA THAT HAVE TO PAY FOR YOUR PHAT

@SS FOR THE REST OF YOUR LIFE.

Not your fault of course.

But don't pretend you're better than or different from the quote in your post.

 

[MeBelle]

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.

I didn't vote for Newsom who is a horrible leader for California.

My family suffers from his insane policies!!!

 

[Eric Arthur Blair]

Next time Gavin Newsom wants to have another giveaway for all the illegal immigrants he invites into the state
of California he should reach into his own pocket and see if he can afford it.

 

[Eric Arthur Blair]

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

Have you been living in the USA long? Because that's how our system has worked for over two hundred years.
You whiny blubbering childish leftists are a real hoot!

 

[Eric Arthur Blair]

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.

Go change your diapers! I didn't vote for Obama or Clinton either. Take the bad with the good, snowflake,
and rub some Vaseline on your diaper rash.

 

[Eric Arthur Blair]

If you don't like the quality of the presidents we have get the democrats to nominate someone people want to actually vote FOR, instead of some mentally diminished, crooked groper who they will only vote for because he is against Trump. Blame yourselves, losers!