Dems Panicked - States Might Have to Pay Own Bills
Are Republicans planning an attempt to save America from the stranglehold of public employee unions? Happy news from panicked socialists.
The National Conference of State Legislatures estimates a $118 billion dollar shortfall in state and municipal budgets in 2011. And there are certainly some states and municipalities with currently unfunded pension liabilities. While federal aid could offset some of that, there’s no chance it will happen – expect the House to pass, early next year, a resolution basically forbidding “bailouts” of the states. At that point, state governments will either have to cut spending or raise taxes to balance their budgets, which almost all of them are constitutionally required to do.
Liberals get their power from their union partners, so they're naturally irate over the idea that states won't have their budgets financed from Washington. They seek to make the conversation an either/or - whose worse, the unions or Wall Street.
The reason that millions of people are suffering is a combination of Wall Street greed and incredible economic mismanagement. As we know, the Wall Street boys are back on their feet, with profits and bonuses again at record levels, thanks to the trillions of dollars in bailout money handed to them by the government in the fall of 2008. If people want to be angry at someone, the multi-million dollar bonuses going to hotshot traders at Goldman Sachs and J.P. Morgan might be a better target than a retired school teacher’s $3,000-a-month pension.
The truth is that cities and towns across Massachusetts and across the country can't make ends meet because of the cost of inflated health care and other benefits for current and retired workers, and because it's near impossible to adjust those costs without the approval of the unions. The system has been fixed by the Democrats to keep the money flowing to their principle base of support.