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

EOG Dedicated
#81
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 for defending this socialist crap which is now being forced on the entire nation. The damage most likely is irreparable.
g]
How is this being forced on the entire nation??Explain!!
 
#82
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 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.
Of course it matters. There's good debt and bad debt, hence the Grand Canyon-like gulf between Illinois (1 star) and Texas (5 star). If you can't tell the difference, then you're truly beyond hope, something everyone reading this already knows.



If you're a "libertarian", then that's a small ass! :+textinb3
 

tank

EOG Dedicated
#83
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!)

Of course it matters. There's good debt and bad debt, hence the Grand Canyon-like gulf between Illinois (1 star) and Texas (5 star). If you can't tell the difference, then you're truly beyond hope, something everyone reading this already knows.

[imtextinb3
Good debt and bad debt??Do you realize just how stupid that sounds??:LMAODo you know how they got out of that mess last time?/Evidently not or you would not make stupid ass comments like the one you just made!!Good debt and bad debt!!:LMAO
 

tank

EOG Dedicated
#85
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 will stop you before you make yourself look any dumber.Illinois's state tax rate is 3% and like they did in the past they will raise it up to 5% to get rid of the mess.Don't worry Joe we are not a Socialist place like your beloved Canada!!
Now I am wondering how Texas is going to get out of their mess huh?
 
#86
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!)

Good debt and bad debt??Do you realize just how stupid that sounds??:LMAODo you know how they got out of that mess last time?/Evidently not or you would not make stupid ass comments like the one you just made!!Good debt and bad debt!!:LMAO
 

tank

EOG Dedicated
#87
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!)

Hey is this kinda like saying their is good prisoners and bad prisoners too?:LMAO:houra
Or maybe a bad fat person and a good fat person?:houra
 

tank

EOG Dedicated
#88
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!)

Or maybe a bad fat person and a good fat person?:houra
I know , how about a good redhead women and a bad redhead women.Does that sound better??:houra
 
#89
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 Now, Here's The First 11 State Pension Funds That Will Run Out Of Money


My state is screwed.

#1 Illinois


Year pension fund runs out: 2018 :doh1

Bill in the following year: $13.6 billion

Share of state revenue: 32%

Projections include 8% y-o-y growth in benefits and 3% y-o-y growth in revenue, from Kellogg professor Joshua Rauh [PDF].

:LMAO :yay 2348ji23e:3dgros13::finger004


Read more: http://www.businessinsider.com/the-state-pension-funds-in-the-most-trouble-2010-10##ixzz19Lz0TmNr
 

tank

EOG Dedicated
#90
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 Now, Here's The First 11 State Pension Funds That Will Run Out Of Money


My state is screwed.

#1 Illinois


Year pension fund runs out: 2018 :doh1

Bill in the following year: $13.6 billion

Share of state revenue: 32%

Projections include 8% y-o-y growth in benefits and 3% y-o-y growth in revenue, from Kellogg professor Joshua Rauh [PDF].

:LMAO :yay 2348ji23e:3dgros13::finger004


Read more: http://www.businessinsider.com/the-state-pension-funds-in-the-most-trouble-2010-10##ixzz19Lz0TmNr
:houraWell at least we have a good 7 years to come up with a plan!!:LMAO
I hope they do not raise the sales tax 1% like they did last time!!Been there done that ...next...????91023i2ndw;l
 

tank

EOG Dedicated
#92
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!)

This is rich.

70% of Decator, Illinois’ property taxes will go to fund union pensions.

So here's the greedy, crybaby union hack's desperate response:



:doh1
g]
I take it you have never been to Decatur before huh?Worse then Chicago.They have no revenue since everyone moved out a long time ago and no business would move there even if they was giving away the land.I would bet over 40% of the people there are on welfare.
 

tank

EOG Dedicated
#93
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!)

why all the double posts?
 

tank

EOG Dedicated
#94
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!)

This is rich.

70% of Decator, Illinois’ property taxes will go to fund union pensions.

So here's the greedy, crybaby union hack's desperate response:



:doh1
]
BTW those are all firemen and police officers who put their life on the line everyday so you go tell them they do not deserve it rather then be a pussy and sit snugly up there in Canada reading Fascist bloggers all day.
 

tank

EOG Dedicated
#95
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!)

xx
 
#96
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!)

In post #89, JoeCanadian is furthering his self-delusion by stating that "my state" is Illinois.
 

brucefan

EOG Dedicated
#97
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!)

Take 50% Pension Cut or Risk Losing it All

The city of Central Falls, Rhode Island, population 19,376, currently has a $5 million deficit on a $17 million budget, with an unfunded pension liability of $80 million. The recently appointed receiver of Central Falls, Robert Flanders, has asked police, fire, and municipal retirees to accept a 50% pension cut or risk losing it all if the city files for bankruptcy. With most of these citizens dependant on their pension for the majority of their retirement income, they have a very tough choice to make.
Central Falls is in desperate need of a bailout from the State of Rhode Island, but Rhode Island itself has $10 billion in unfunded pensions and could soon be in need of a bailout from the Federal Government. U.S. states currently have total unfunded pension liabilities exceeding $1 trillion. The only way out of this crisis for all U.S. cities and states is for the Federal Reserve to continue unleashing additional rounds of quantitative easing in order to create massive price inflation.
If the U.S. government wants to avoid the current situation in Europe and not have all highly indebted states that can?t print money begging for bailouts, just like how Greece, Ireland, and Portugal, have been begging for bailouts from the European Union, the Fed needs to create phony nominal GDP growth at all costs. It doesn?t matter how high the Bureau of Labor Statistics? phony CPI rises, the Fed cannot allow GDP to go negative. The Fed is going to do everything in its power to continue creating the illusion of an economic recovery and will not do anything to combat price inflation until the U.S. inflation crisis is the front story on the newspaper every single day. By then, it will be impossible to reinflate the dollar bubble, just like how it was proven to be impossible to reinflate the Real Estate and dot-com bubbles. The dollar bubble is the largest and longest running bubble in world history and when this bubble bursts, the U.S. government will go bust along with the whole entire U.S. economic and monetary system.all/

Take 50% Pension Cut or Risk Losing it All | National Inflation Association Blog

and the sheep still buy bonds, and sell their gold , go figure:doh1
 
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