60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

You can't find the original link, can ya? It's in "the archives"...uh huh...yeah, sure it is, pal. You'd think your underwear blogger would have linked to the "original source". Instead, all we get is the homepage of the Tax Foundation. And no, you never did post the original data.

As much as I would love to accuse you of being full of shit, I can't do that...because....you're not that smart. You're just a dumb blind sheep who isn't smart enough to do his own homework and therefore falls for the 'progressive' propaganda each and every time.

Underwear blogger = fraud

crybaby union hack = moron

]

And just when we thought you could not make yourself look any dumber you go and out do yourself.Since you have proven you cannot use the archive feature I am sure you are now going to be telling us next how you ''write& copy''.:LMAO
Have some more peanuts my ''slow'' monkey.Yes even you have been demoted to below retard level.Great job again!!

 

[MannyLovitto]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Markie, tell us some more stories about the state of Texas being so self-sufficient that they do not accept federal government dollars.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Thank you for posting the source.

Thanks to a steeply progressive federal income tax, states with higher incomes pay vastly higher federal taxes, payments that are unlikely ever to be matched by federal spending directed to those states. Ironically, most of these high-paying states are the so-called blue states that have generally elected politicians who support a more steeply progressive tax system even though their own constituents bear a greater share of the burden as the code gets more progressive.[/LEFT]

Yeah, doesn't exactly fit the underwear blogger narrative, does it? How are the (smaller) red states to blame for your stupid progressive tax system which creates this imbalance? Explain that one, genius. Of course rural areas will have lower incomes than metropolitan areas. Of course tiny states won't produce the same revenue per capita as the large populated states. DUH! Why is this news? And why does it matter?

Ironically, most of these high-paying states are the so-called blue states that have generally elected politicians who support a more steeply progressive tax system even though their own constituents bear a greater share of the burden as the code gets more progressive.

Savor that irony.

Blue states overtax their people, and 'progressive underwear bloggers are outraged and thus create this false Marxist narrative that "red states aren't paying their fair share." Maybe that's why 60 Minutes didn't this BS? lol

Now THAT's funny.

Oh, btw, Mr. Underwear Blogger, a flat tax would fix this phantom "imbalance"...well, at least significantly reduce the gap. Thanks for demonstrating how unfair and inefficient a 'progressive' tax is. Soaking "the rich" isn't quite what's it cracked up to be, huh?

Thanks for playing.

 

[MannyLovitto]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

"JoeC" is All Over the Net, baby!:whino:

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Never gets old watching JoeCanadian rant against the world on his heavy manic blue pill days

You know him better then I do, but seriously is he retarded?I am kinda starting to feel guilty since it is like picking on a slow kid and he is so damn dumb!
Maybe he was dropped on his head as a child??Something is just not right with him and it is not good for him.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Thank you for posting the source.



Yeah, doesn't exactly fit the underwear blogger narrative, does it? How are the (smaller) red states to blame for your stupid progressive tax system which creates this imbalance? Explain that one, genius. Of course rural areas will have lower incomes than metropolitan areas. Of course tiny states won't produce the same revenue per capita as the large populated states. DUH! Why is this news? And why does it matter?



Savor that irony.

Blue states overtax their people, and 'progressive underwear bloggers are outraged and thus create this false Marxist narrative that "red states aren't paying their fair share." Maybe that's why 60 Minutes didn't this BS? lol

Now THAT's funny.

Oh, btw, Mr. Underwear Blogger, a flat tax would fix this phantom "imbalance"...well, at least significantly reduce the gap. Thanks for demonstrating how unfair and inefficient a 'progressive' tax is. Soaking "the rich" isn't quite what's it cracked up to be, huh?

Thanks for playing.

[i

See what I mean.I have proven that blue states carry the welfare red states and it goes over his head once again.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

See what I mean.I have proven that blue states carry the welfare red states and it goes over his head once again.

Yes, apparently it went over 60 Minutes head too cause they never brought up your idiot Marxist narrative. lol

Did you read what the Tax Foundation said? It's the PROGRESSIVE TAX code which creates this "welfare" imbalance, no fault of the smaller rural states. So scrap the progressive tax then? Do you favor lower taxes overall in the big blue states, or is that too difficult to swallow because it clashes with your equally idiotic "soak the rich" class warfare narrative?

All you have proven is that you're a moron incapable of exercising, rational independent thought.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Yes, apparently it went over 60 Minutes head too cause they never brought up your idiot Marxist narrative. lol

Did you read what the Tax Foundation said? It's the PROGRESSIVE TAX code which creates this "welfare" imbalance, no fault of the smaller rural states. So scrap the progressive tax then? Do you favor lower taxes overall in the big blue states, or is that too difficult to swallow because it clashes with your equally idiotic "soak the rich" class warfare narrative?

All you have proven is that you're a moron incapable of exercising, rational independent thought.
g]

It has always been about the ratio dummy.Here is where you are suppose to talk about how great those non union paying jobs are really helping the uneducated rednecks in the welfare states.It is progressive because they have to make up the shortfall from the red welfare states .Understand or do I have to draw pictures for you?Don't try to say it is not the red states fault when it is obvious to everyone it is.
Yes let's scrap this whole deal and watch the red states go belly up , but just one question??With no unions to blame what kind of excuse or fairytale will you come up with then ?

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Did you read what the Tax Foundation said? It's the PROGRESSIVE TAX code which creates this "welfare" imbalance, no fault of the smaller rural states. So scrap the progressive tax then? Do you favor lower taxes overall in the big blue states, or is that too difficult to swallow because it clashes with your equally idiotic "soak the rich" class warfare narrative?

g]

Are you saying the welfare red states are paying a different tax rate then the blue states?:LMAOPlease tell me you are not this dumb?Please!!

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

The only way to bridge your phantom gap would be for the red states to jump on the suicide high tax/high regulation/forced unionization bandwagon that is strangling the blue states.

Not gonna happen.

If you want to reduce the "welfare gap" between states, lower taxes (junk the progressive income tax) in the blue states AND federally, thereby contributing LESS to overall federal revenues. That simple.

People are overtaxed no matter where they live. All governments spend too much.

This will change as the the fiscal realities begin to hit home.

The coming state budget crisis is going to be worse than the housing bubble, mark my words.

Armageddon is here, 'progressives.' Party is over.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

http://townhall.com/tipsheet/Jillia...t_rates,_unionization_rates,_and_income_taxes

Worth a full read from The Volokh Conspiracy:

As the nation considers increasing marginal tax rates and facilitating greater union membership, I thought it might make sense to look at the states with the highest and lowest unemployment rates to see if there might be any relevant patterns.

The six states with the highest unemployment rates are:

• 12.6% Michigan
• 12.1% Oregon
• 11.4% South Carolina
• 11.2% California
• 10.8% North Carolina
• 10.5% Rhode Island

The six states with the lowest unemployment rates are:

• 5.2% Iowa
• 5.2% Utah
• 4.9% South Dakota
• 4.6% Nebraska
• 4.5% Wyoming
• 4.2% North Dakota

In the six states with the highest unemployment rates, the average top state income tax bracket is 8.05%. All but Michigan have marginal tax rates of at least 7% (and Michigan has a very high unionization rate).

On the other hand, the average top tax bracket for the six states with the lowest unemployment is only 4.4%, with 4 of the 6 states having a top marginal rate of 5.54% or less.

Further, union representation averages 14.1% in the six high unemployment states, with a median of 17.4%. All but the Carolinas are among the most unionized states in the nation (and the Carolinas have relatively high marginal income tax rates of 7% and 7.75%).

Putting this together, 3 of the 6 states with the highest unemployment (California, Oregon, and Rhode Island) have both high marginal income tax rates and high union representation. Michigan has high unionization but moderate marginal income tax rates, and the Carolinas have high marginal income taxes, but low unionization rates.

Among the 6 states with the lowest jobless rates, 4 have low unionization rates and no state income tax or modest marginal rates and a fifth (Nebraska) has average income tax rates and low unionization. The exception is Iowa, which has average unionization rates (13%) and high marginal income taxes (8.98%).

I would put less emphasis on my analysis of the LOW unemployment states because they are all in the upper Great Plains. But the HIGH unemployment states are otherwise quite diverse (from the West Coast to New England to the upper Midwest to the Carolinas). What they share are high marginal income taxes or high unionization or both.
​

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

T

If you want to reduce the "welfare gap" between states, lower taxes (junk the progressive income tax) in the blue states AND federally, thereby contributing LESS to overall federal revenues. That simple.



r.

Joe I do really feel sorry for you okay!!We all pay the same rate in federal taxes.Do you think someone living in Illinois pays a different tax rate then a guy in Arkansas that is making the same amount of money?Now I have giving you enough attention tonight but I am getting really bored with your nonsense.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Joe I do really feel sorry for you okay!!We all pay the same rate in federal taxes.Do you think someone living in Illinois pays a different tax rate then a guy in Arkansas that is making the same amount of money?Now I have giving you enough attention tonight but I am getting really bored with your nonsense.

It's easy to play this distracting "red state are robbing blue states" game, but the fact is, the argument that left wing states have high unemployment and high debt can also be expanded to countries.

No matter how you parse the numbers, the fact is, high taxes and high unionization = high unemployment and lots of unsustainable debt.

Armageddon is finally here and the blue states will fare much worse by the time it's all over.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Joe I do really feel sorry for you okay!!We all pay the same rate in federal taxes.Do you think someone living in Illinois pays a different tax rate then a guy in Arkansas that is making the same amount of money?Now I have giving you enough attention tonight but I am getting really bored with your nonsense.

No of course not, but larger metropolitan areas will have more higher income earners per capita than rural areas. Not exactly earth shattering, tank.

greater number of high earners = more govt revenue

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

It's easy to play this distracting "red state are robbing blue states" game, but the fact is, the argument that left wing states have high unemployment and high debt can also be expanded to countries.

No matter how you parse the numbers, the fact is, high taxes and high unionization = high unemployment and lots of unsustainable debt.
.

And yet they still pay more and receive less.:doh1You are this stupid!!

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

And yet they still pay more and receive less.:doh1You are this stupid!!

Yep, the avg. taxpayer in France pays lots MORE while receiving LESS in benefits, compared to the avg. American taxpayer. You are correct.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

[u
Worth a full read from The Volokh Conspiracy:
[]

The Volokh Conspiracy.:LMAO:LMAONo desperation here.:LMAO
3 out of the top 6 are red states.:houra
You do know they are talking about STATE TAXES here .:LMAONothing to do with how much the blue states subsidies the red states but you go Joe!!Unreal!!

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Yep, the avg. taxpayer in France pays lots MORE while receiving LESS in benefits, compared to the avg. American taxpayer. You are correct.

Time for a red pill here.That's not even out in left field that is out in the parking lot, but yeah Joe that really applies here.:doh1

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

No of course not, but larger metropolitan areas will have more higher income earners per capita than rural areas. Not exactly earth shattering, tank.

greater number of high earners = more govt revenue

Oh gheesh!!!Nope their are no large metropolitan areas down south at all!!You are proving just how retarded you really are.No hiding it man just keep going!!

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Job Creation:
Why Some Countries Do Better

"Some analysts conclude that heightened demands by trade unions in Europe beginning ... Higher unemployment benefits, for example, result in higher unemployment and ... Higher taxes"

http://www.imf.org/external/pubs/ft/issues/issues20/

There you go, tank...straight from the IMF. Doesn't get any more clear than that.

Keep drinking the Kool Aid though, since it tastes soooo good. lol

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

There you go, tank...straight from the IMF. Doesn't get any more clear than that.

Keep drinking the Kool Aid though, since it tastes soooo good. lol

:doh1:+clueless2348ji23e
Oh my God!!I am almost speechless at this latest display of stupidity.I mean really!!
Yeah okay I will play along out in left field for a second but without reading the totally off topic thread I will say China is number 1 at job ''creation'' right?:+textinb3
I bet they have to fight people off at the border to keep them away from these slave jobs too right??:+textinb3Unbelievable!!This is the only time I will ever feel sorry for you.Really I mean that !!

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

So you concede the fact unions and high taxes ('progressivism') cause high unemployment and poor economic productivity.

Good, now stay away from Google. It's making you stupid.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

So you concede the fact unions and high taxes ('progressivism') cause high unemployment and poor economic productivity.

Good, now stay away from Google. It's making you stupid.

5;15 am!!Man that was some bi polar binge huh?Still makes you retarded but we expect that from you.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

So you concede the fact unions and high taxes ('progressivism') cause high unemployment and poor economic productivity.

Word.

Census: Fast growth in states with no income tax

For those of us who are demographic buffs, Christmas came four days early when Census Bureau director Robert Groves announced on Tuesday the first results of the 2010 census and the reapportionment of House seats (and therefore electoral votes) among the states. The resident population of the United States, he told us in a webcast, was 308,745,538. That's an increase of 9.7 percent from the 281,421,906 in the 2000 census -- the smallest proportional increase than in any decade other than the Depression 1930s but a pretty robust increase for an advanced nation. It's hard to get a grasp on such large numbers. So let me share a few observations on what they mean.

First, the great engine of growth in America is not the Northeast Megalopolis, which was growing faster than average in the mid-20th century, or California, which grew lustily in the succeeding half-century. It is Texas. :thumbsup

Its population grew 21 percent in the past decade, from nearly 21 million to more than 25 million. That was more rapid growth than in any states except for four much smaller ones (Nevada, Arizona, Utah and Idaho).

Texas' diversified economy, business-friendly regulations and low taxes have attracted not only immigrants but substantial inflow from the other 49 states. As a result, the 2010 reapportionment gives Texas four additional House seats. In contrast, California gets no new House seats, for the first time since it was admitted to the Union in 1850.

There's a similar lesson in the fact that Florida gains two seats in the reapportionment and New York loses two.

This leads to a second point, which is that growth tends to be stronger where taxes are lower. Seven of the nine states that do not levy an income tax grew faster than the national average. The other two, South Dakota and New Hampshire, had the fastest growth in their regions, the Midwest and New England.

Altogether, 35 percent of the nation's total population growth occurred in these nine non-taxing states, which accounted for just 19 percent of total population at the beginning of the decade.

My third observation is that immigration is slowing down and may be reversed. Immigration accelerated during the 1990s, and the 2000 census showed more immigrants than the Census Bureau had estimated.

In contrast, immigration has clearly slowed down since the housing bubble burst and the construction industry went bust in 2007. And the 2010 census showed fewer residents in several high-immigration states than the Census Bureau had estimated were there in 2009.

The drop was particularly big, 3 percent, in Arizona, where state and local governments have cracked down on illegals, notably by requiring employers to use the e-Verify system to determine immigration status (that law was signed by Janet Napolitano, then governor and now homeland security secretary).

We can't be sure until more detailed data are reported, but it looks like we're seeing significant reverse migration. The lesson is that states' public policy and law enforcement practices can make a difference.

Finally, let's get to politics. The net effect of the reapportionment was to add six House seats and electoral votes to the states John McCain carried in 2008 and to subtract six House seats and electoral votes from the states Barack Obama carried that year. Similarly, the states carried by George W. Bush in 2004 gained six seats and the states carried by John Kerry lost six.

That's not an enormous change. But it's part of a long-term trend that has reshaped the nation's politics. If you go back to the 1960 election, when the electoral votes were based on the 1950 census, you will find that John Kennedy won 303 electoral votes. But the states he carried then will have only 272 electoral votes in 2012, a bare majority. And without Texas, which he narrowly carried, the Kennedy states would have only 234 electoral votes.

The bottom line: You need a lot more than the Northeast and the industrial Midwest to get elected president these days.

And to control a majority in the House of Representatives. Thanks to unexpectedly large gains in state legislatures, Republicans stand to control the redistricting process in 18 states with 204 House districts, while Democrats will control it in only seven states with 49 districts. That doesn't guarantee continued Republican majorities, but it's probably worth 10 to 15 seats.

Meanwhile, I await the post-Christmas treat of more detailed census results to come.

Michael Barone,The Examiner's senior political analyst, can be contacted at mbarone@washingtonexaminer.com. His column appears Wednesday and Sunday, and his stories and blog posts appear on ExaminerPolitics.com.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Yes Joe everyone is moving to Texas to get away from 9% of the workforce that is union.:houra
Mexicans love living in right to work states where they do not need a license to be a electrician , plumber or HAVC repairmen.Which do you want working for you??
Honestly how much do you think you save living in a state with no state income tax compared to a state that does?
How many jobs that where union have been moved down to Texas?:houra

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Texas has no state taxes and is 19 billion in debt!!
Look what your hero Sarah did to Alaska that also has no state tax.
Post-Palin Alaska has largest debt burden in US


http://www.rawstory.com/rs/2010/03/postpalin-alaska-largest-debt-burden/

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Global Debt Crisis

#50 Illinois

<cite></cite> 01.20.10, 06:00 PM EST
<table id="navTable" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td>Previous: New York</td><td align="right">
</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td colspan="2" align="left">Forbes Debt Rating (out of 4 stars)</td><td align="center"> </td> </tr> <tr class="color"> <td align="left">Debt Per Capita</td><td class="bold" align="right">$1,877</td><td rowspan="5" align="right" width="150"> </td> </tr> <tr> <td align="left">Unfunded Pensions Per Capita¹</td><td class="bold" align="right">$17,230</td> </tr> <tr class="color"> <td align="left">Moocher Ratio²</td><td class="bold" align="right">60.8%</td> </tr> <tr> <td align="left">Moody's Rating</td><td class="bold" align="right">A1</td> </tr> <tr class="color"> <td align="left">S&P Rating</td><td class="bold" align="right">AA-</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Governor</td><td class="bold" align="right">Pat Quinn</td> </tr> <tr class="color"> <td align="left">Gross State Product</td><td class="bold" align="right">$503 bil</td> </tr> <tr> <td align="left">Population</td><td class="bold" align="right">13,000,000</td> </tr> <tr class="color"> <td align="left">Average annual net migration</td><td class="bold" align="right">-20,700</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Net tax-supported debt (2008)</td><td class="bold" align="right">$24.2 bil</td> </tr> <tr class="color"> <td align="left">Debt as % of personal income</td><td class="bold" align="right">4.6%</td> </tr> <tr> <td align="left">Debt as % of Gross State Product</td><td class="bold" align="right">4.7%</td> </tr> <tr class="color"> <td align="left">State tax revenue (last 12-mos)</td><td class="bold" align="right">$26.9 bil</td> </tr> <tr> <td align="left">State tax revenue change (last 12-mos)</td><td class="bold" align="right">-10.4%</td> </tr> <tr class="color"> <td align="left">State and local general revenue (2007)</td><td class="bold" align="right">$91 bil</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Unemployment (2010)</td><td class="bold" align="right">11.5%</td> </tr> <tr class="color"> <td align="left">Job growth*</td><td class="bold" align="right">1.3%</td> </tr> <tr> <td align="left">Income growth*</td><td class="bold" align="right">2.7%</td> </tr> <tr class="color"> <td align="left">Gross State Product growth*</td><td class="bold" align="right">3.4%</td> </tr> <tr> <td align="left">Population growth*</td><td class="bold" align="right">0.5%</td></tr></tbody></table>

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Global Debt Crisis

#4 Texas

<cite></cite> 01.20.10, 06:00 PM EST
<table id="navTable" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td>Previous: Nebraska</td><td align="right">Next: Virginia</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td colspan="2" align="left">Forbes Debt Rating (out of 4 stars)</td><td align="center"> </td> </tr> <tr class="color"> <td align="left">Debt Per Capita</td><td class="bold" align="right">$520</td><td rowspan="5" align="right" width="150"> </td> </tr> <tr> <td align="left">Unfunded Pensions Per Capita¹</td><td class="bold" align="right">$7,744</td> </tr> <tr class="color"> <td align="left">Moocher Ratio²</td><td class="bold" align="right">56.3%</td> </tr> <tr> <td align="left">Moody's Rating</td><td class="bold" align="right">Aa1</td> </tr> <tr class="color"> <td align="left">S&P Rating</td><td class="bold" align="right">AA+</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Governor</td><td class="bold" align="right">Rick Perry</td> </tr> <tr class="color"> <td align="left">Gross State Product</td><td class="bold" align="right">$916 bil</td> </tr> <tr> <td align="left">Population</td><td class="bold" align="right">24,800,000</td> </tr> <tr class="color"> <td align="left">Average annual net migration</td><td class="bold" align="right">218,400</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Net tax-supported debt (2008)</td><td class="bold" align="right">$12.6 bil</td> </tr> <tr class="color"> <td align="left">Debt as % of personal income</td><td class="bold" align="right">1.4%</td> </tr> <tr> <td align="left">Debt as % of Gross State Product</td><td class="bold" align="right">1.4%</td> </tr> <tr class="color"> <td align="left">State tax revenue (last 12-mos)</td><td class="bold" align="right">$40.2 bil</td> </tr> <tr> <td align="left">State tax revenue change (last 12-mos)</td><td class="bold" align="right">-10.7%</td> </tr> <tr class="color"> <td align="left">State and local general revenue (2007)</td><td class="bold" align="right">$156 bil</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Unemployment (2010)</td><td class="bold" align="right">8.6%</td> </tr> <tr class="color"> <td align="left">Job growth*</td><td class="bold" align="right">2.7%</td> </tr> <tr> <td align="left">Income growth*</td><td class="bold" align="right">2.0%</td> </tr> <tr class="color"> <td align="left">Gross State Product growth*</td><td class="bold" align="right">4.7%</td> </tr> <tr> <td align="left">Population growth*</td><td class="bold" align="right">1.8</td></tr></tbody></table>

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Say's the Canadian!!:LMAO

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Global Debt Crisis

#4 Texas

<cite></cite> 01.20.10, 06:00 PM EST
<table id="navTable" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td>Previous: Nebraska</td><td align="right">Next: Virginia</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td colspan="2" align="left">Forbes Debt Rating (out of 4 stars)</td><td align="center"> </td> </tr> <tr class="color"> <td align="left">Debt Per Capita</td><td class="bold" align="right">$520</td><td rowspan="5" align="right" width="150"> </td> </tr> <tr> <td align="left">Unfunded Pensions Per Capita¹</td><td class="bold" align="right">$7,744</td> </tr> <tr class="color"> <td align="left">Moocher Ratio²</td><td class="bold" align="right">56.3%</td> </tr> <tr> <td align="left">Moody's Rating</td><td class="bold" align="right">Aa1</td> </tr> <tr class="color"> <td align="left">S&P Rating</td><td class="bold" align="right">AA+</td> </tr> </tbody></table> <table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Governor</td><td class="bold" align="right">Rick Perry</td> </tr> <tr class="color"> <td align="left">Gross State Product</td><td class="bold" align="right">$916 bil</td> </tr> <tr> <td align="left">Population</td><td class="bold" align="right">24,800,000</td> </tr> <tr class="color"> <td align="left">Average annual net migration</td><td class="bold" align="right">218,400</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Net tax-supported debt (2008)</td><td class="bold" align="right">$12.6 bil</td> </tr> <tr class="color"> <td align="left">Debt as % of personal income</td><td class="bold" align="right">1.4%</td> </tr> <tr> <td align="left">Debt as % of Gross State Product</td><td class="bold" align="right">1.4%</td> </tr> <tr class="color"> <td align="left">State tax revenue (last 12-mos)</td><td class="bold" align="right">$40.2 bil</td> </tr> <tr> <td align="left">State tax revenue change (last 12-mos)</td><td class="bold" align="right">-10.7%</td> </tr> <tr class="color"> <td align="left">State and local general revenue (2007)</td><td class="bold" align="right">$156 bil</td> </tr> <tr> <td colspan="2" class="line">
</td> </tr> <tr> <td align="left">Unemployment (2010)</td><td class="bold" align="right">8.6%</td> </tr> <tr class="color"> <td align="left">Job growth*</td><td class="bold" align="right">2.7%</td> </tr> <tr> <td align="left">Income growth*</td><td class="bold" align="right">2.0%</td> </tr> <tr class="color"> <td align="left">Gross State Product growth*</td><td class="bold" align="right">4.7%</td> </tr> <tr> <td align="left">Population growth*</td><td class="bold" align="right">1.8</td></tr></tbody></table>

Is this counting all the illegal aliens there??I will gladly make more money here and be around people that speak english instead of compete with illegals that speak spanish

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Illinois deep in debt, doesn?t pay bills

Crisis pushes businesses, organizations to edge of bankruptcy



Seth Perlman / AP Ed Harp straightens hangers at SPARC, an agency that helps people with developmental disabilities, in Springfield, Ill. The state owes SPARC about $2.5 million.

By CHRISTOPHER WILLS Associated Press Writer
The Associated Press

SPRINGFIELD, Ill. ? For 35 years, frail senior citizens in southern Illinois could turn to the Shawnee Development Council for help cleaning the house, buying groceries or any of the chores that make the difference between living at home or moving to an institution.

No more. The council shut down the program Thursday because of a budget crisis created by the state of Illinois' failure to pay its bills.
Paralyzed by the worst deficit in its history, the state has fallen months behind in paying what it owes to businesses and organizations, pushing some of them to the edge of bankruptcy.

Illinois isn't bothering with the formality of issuing IOUs, as California did last year. It simply doesn't pay.

Plenty of states face major deficits as the recession continues. They're cutting services or raising taxes or expanding gambling to close the gap.

But Illinois is taking the extra step of ignoring bills.

Right now, $4.4 billion worth of bills, some dating back to October, are sitting in the Illinois comptroller's office waiting to be paid someday.
Shawnee Development, for instance, is waiting on about $380,000 in back payments, officials say. That amounts to one-quarter of the council's budget for senior care in seven southern counties. "It makes me mad as heck," said Georgia Smith, a 66-year-old volunteer at the agency. Seniors, she said, "are used to paying our bills, paying our way."

Prisons refused bullets

Illinois' deadbeat reputation has created some embarrassing situations. :doh1

A supplier refused to sell bullets to the Department of Corrections unless it got paid in advance. Legislators have gotten eviction notices for their district offices because the state wasn't paying rent. One legislator said he had to use campaign funds to pay the telephone bill after service was cut off at his office.

The practice of simply putting off payments became commonplace under ex-Gov. Rod Blagojevich, who liked to spend but adamantly opposed a tax increase to help cover costs. Before he was arrested and kicked out of office, Blagojevich's toxic relationship with legislators essentially paralyzed government, so bills just piled up.

The strategy also may have been helped along by Illinois' "anything goes" political culture. When voters believe government decisions hinge on campaign contributions and shady deals, they're less likely to expect responsible fiscal practices.

Some schools have tried to shame Illinois into paying by posting signs announcing how much the state owes. The website IllinoisIsBroke.com details the state's financial mess. Associations hold rallies and write letters to the editor.

$6 billion in unpaid bills

The state still remains months behind.

Illinois is on track to end the current fiscal year with about $6 billion in unpaid bills. Budget proposals for the coming year ? when the state faces a $13 billion deficit ? assume the same thing will happen again.

The state owes money for all kinds of services provided in its name, such as medical care for the needy, home care for the elderly and disabled and day care for the working poor.

State government promises to reimburse all those organizations for at least part of their costs. When the state doesn't pay its bills, they're stuck trying to figure out how to make ends meet.

Most have spent their reserves and cut corners wherever they can, laying off employees, cutting back hours, requiring workers to take furloughs.
Recovery Resources, a substance-abuse treatment center in Quincy, is waiting for $200,000 from the state, which provides about two-thirds of the center's annual budget.

The center has cut 10 jobs over the past two years, said executive director Ron Howell. It shut down its services for adolescent addicts. People who call for help now wait three to four weeks for an appointment.

'This has numbed us'

"The situation, for us, has been almost normalized, and that's the scary part," Howell said. "If I'm not screaming on the edge of self-destruction, it's because this has numbed us."

Many agencies have borrowed money to keep the doors open, but service providers say that's getting harder to do ? banks are more reluctant to lend money on a promise that the state will pay up someday.

"We have had members whose banks have told them it is the creditworthiness of the state of Illinois that is their primary concern," said Janet Stover, executive director of the Illinois Association of Rehabilitation Facilities.

State leaders have no plan to catch up on the bills anytime soon, not with a $13 billion deficit to tackle. The Pew Center on the States said last year that in percentage terms, Illinois' deficit is nearly as big as the gap in California, the gold standard for states in crisis.

Call for tax increase

Democratic Gov. Pat Quinn has called for an income tax increase, but any money from that would be allocated to other areas, not paying routine bills. Republicans want to tackle the deficit through spending cuts, which would also mean letting old bills go unpaid.

It's likely that no dramatic movement in either direction will take place until after the November elections.

Illinois government owes about $2.5 million to Sparc, a Springfield organization for people with developmental disabilities, said chief executive officer Carlissa Puckett.

Sparc has borrowed up to $1.1 million through a line of credit. Turning away clients would be the last resort, she said.

Puckett sounds matter-of-fact as she discusses scrimping on paper and pencils. "Why cry if nobody is going to listen to you?" Puckett said.

"We're going to keep our head up and figure out how to make it work."

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

:doh12938u4ji23

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Glenn Beck: Why Canada sucks

<table style="margin-top: 10px; margin-bottom: 15px;" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="padding-right: 5px;" valign="middle"> </td><td>Audio Available: </td><td style="padding-left: 5px;">
</td><td></td><td style="padding-left: 5px;">
</td><td></td></tr></tbody></table> June 9, 2010 - 15:50 ET
http://www.glennbeck.com/content/articles/article/198/41687/


And here this is Joe's biggest hero.:LMAO

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Honestly, how you can sit there with a straight face and defend your dysfunctional socialism, as well as rampant cronyism and corruption against a prosperous economic model like Texas is beyond all reason and logic...but then you have never had much of either.

Hmmm, crybaby union hack vs Forbes...who should we believe?

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Honestly, how you can sit there with a straight face and defend your dysfunctional socialism and rampant corruption against a prosperous economic model like Texas is beyond all reason and logic...but then you have never had much of either.

Hmmm, crybaby union hack vs Forbes...who should we believe?

:LMAOYou live in a Socialist country called Canada and you are going to try and tell me I live in a Socialist state???:LMAOOh the irony.
The only thing you have right is the corruption.As long as the Chicago Democrats keep running things it is not going to get any better.Every tax they raise whether it be sin taxes or for license plates does not matter since they blow it on stupid shit. When we try to get a audit on where the money is going they will not allow it.

 

[Joe Contrarian]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

The only thing you have right is the corruption.As long as the Chicago Democrats keep running things it is not going to get any better.Every tax they raise whether it be sin taxes or for license plates does not matter since they blow it on stupid shit. When we try to get a audit on where the money is going they will not allow it.

I have everything right. You're an idiot for defending this socialist crap which is now being forced on the entire nation. The damage most likely is irreparable.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Honestly, how you can sit there with a straight face and defend your dysfunctional socialism, as well as rampant cronyism and corruption against a prosperous economic model like Texas is beyond all reason and logic...but then you have never had much of either.

Hmmm, crybaby union hack vs Forbes...who should we believe?

[/QUOTE]
Texas is 19 billion in debt with no state taxes and Illinois is in debt with state taxes .Does it really matter since they are both in debt ???Because one has a higher bond rating does not make that much of a difference.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

I have everything right. You're an idiot by defending this socialist crap which is now being forced on the entire nation. The damage most likely is irreparable.

I have wasted enough time proving to you how the welfare red states are draining the federal money and not paying their fair share but you think a bond rating from forbes proves something of value???:LMAO:LMAO:LMAOOh no Illinois is ranked last on bond ratings!!!:LMAOWhat will we do??What a dipshit.

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Texas has no state taxes and is 19 billion in debt!!
Look what your hero Sarah did to Alaska that also has no state tax.
Post-Palin Alaska has largest debt burden in US


http://www.rawstory.com/rs/2010/03/postpalin-alaska-largest-debt-burden/

What about that great red state Alaska????The largest debt burden in the country??For every dollar they send in they get back $1.84!!!Oh my this cannot be!!How is this done??

 

[tank]

Re: 60 Minutes on State Budgets: The Day of Reckoning Has Arrived (No bailouts! Let the blue states, progressives and their fat cat unions eat cake!)

Texas has no state taxes and is 19 billion in debt!!
Look what your hero Sarah did to Alaska that also has no state tax.
Post-Palin Alaska has largest debt burden in US


http://www.rawstory.com/rs/2010/03/postpalin-alaska-largest-debt-burden/

You mean Sarah has forced this on the entire country too??It cannot be!!Thanks Sarah I am going to blame you for all the countries debt problem now.See how easy that is Joe?