Bankrupt States of America

Government spending has gone way out of control. More states cannot meet their expenses and are demanding federal bailouts from Washington. Here’s an article from the Washington Post:


Facing Shortfalls, States Seek Emergency Aid From Washington

Excerpts:

NEW YORK — First came the banks looking for a federal rescue plan to stay afloat. Next it was the automakers seeking a bailout. And now state governments say they, too, need emergency federal assistance to remain solvent.

“I believe that the crisis that is happening in the states needs to be elevated in the national discussion about restoring our economy,” said California state Assembly Speaker Karen Bass (D). “California is the world’s sixth-largest economy. And just as we cannot let the auto industry fail, we can’t let the state of California fail.”

Eight states — New Jersey, California, Kentucky, Missouri, Wisconsin, North Carolina, Rhode Island and Arkansas — are nearly solvent, with reserves to cover four to six months of average payments. And an additional six states fall into the seven- to 11-month range — Pennsylvania, Minnesota, Idaho, Illinois, Connecticut and Massachusetts.

How about just cutting back spending? Why not live within your means like you are supposed to?

A few months ago I wrote a post on how California is wasting our taxes, The state bureaucracies spend on prisons, useless programs to bring free phones to people, free health care to illegal aliens, etc.

Here’s an example from that post:

LAUSD wastes hundreds of millions on building schools which never get finished. LAUSD bureaucrats make as much as $300,000 plus benefits such as a car, housing, and expense accounts. LAUSD Principals make $99,000 up and Superintendents $250,000 and up and they don’t even teach anything.

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One thought on “Bankrupt States of America

  1. Pingback: Bailout Tally: $4.28 Trillion So Far « Battlefield Of A Peaceful Warrior

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