Tuesday, March 30, 2010

States Better Wake Up


"The state’s economy will also be weighed down by the ballooning federal debt, though California does not have to worry about those payments as much as its taxpaying citizens and businesses do."
Wrong. The Federal government will be pushing down mandates to the States. If they are not getting the Bills now, they will be in the future. The States have one of two choices. 1.) Do nothing and eventually the Federal government will have to take over all the States as they go into bankruptcy but without a court to file bankruptcy 2.) Start cutting the ropes that bind, get rid of all unfunded liabilities such as pensions and entitlements, either done at the State level or by agreement with the Federal government via State legislation.

If the States don't wake up soon there will be no States in the future.

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