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States That Can't Pay for Themselves

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posted on Oct, 9 2008 @ 03:02 PM
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States That Can't Pay for Themselves


finance.yahoo.com

California is going to Washington, D.C., to ask for $7 billion to cover its budget shortfall. Otherwise it won't be able to pay for its teachers, cops, firemen, and other essential services. Unfortunately, California won't be alone. A number of other states are experiencing a huge dive in tax revenue and could be going cap in hand to Uncle Sam alarmingly soon. How bad could it get? The potential cost for all the 31 states facing both major and minor shortfalls could be as much as $53.4 billion.
(visit the link for the full news article)

====
Mod Edit: Title fixed to reflect original article
Mod Edit: Breaking News Forum Submission Guidelines – Please Review This Link.


[edit on 9/10/2008 by Badge01]




posted on Oct, 9 2008 @ 03:02 PM
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Wow. Just wow.

Can there be *any* doubt in anyone's mind now that we are in a serious crisis?

It seems that some state govrnments are bankrupt--perhaps paving the way for a martial takeover of all indebted states?

I will be intersted to see whether the Feds write up money for this, or present some kind of other (perhaps worse) solution.

finance.yahoo.com
(visit the link for the full news article)

EDIT: Additional link here
====
Mod Edit: Title fixed to reflect original article


[edit on 9/10/2008 by Badge01]

[edit on 9-10-2008 by asmeone2]



posted on Oct, 9 2008 @ 04:41 PM
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do we know exactly where the money is going to come from?? money from "Washington D.C." isn't a good enough answer for me. is the IMF going to get involved, or is this going to be swindled, er, solved by the Federal Reserve?


...i wish the global economy would just hurry up and collapse for GOOD already!



posted on Oct, 9 2008 @ 06:32 PM
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Originally posted by adrenochrome
do we know exactly where the money is going to come from?? money from "Washington D.C." isn't a good enough answer for me. is the IMF going to get involved, or is this going to be swindled, er, solved by the Federal Reserve?


...i wish the global economy would just hurry up and collapse for GOOD already!


I couldn't agree more.

Of course the Feds are only trying to save their friends, but they are only making it more difficult for everyone else by doing that.



posted on Oct, 9 2008 @ 06:55 PM
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I noticed in the article that they mention 31 states but they only list a few in the article. Is there a complete listing somewhere?


.



posted on Oct, 9 2008 @ 07:01 PM
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If you click on the link on the bottom of the page, it will direct you to a slideshow with at least 20 states.



posted on Oct, 9 2008 @ 07:08 PM
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It is truly unfortunate but I have a slow connection (Dial up speeds). Thank you though anyway.


Edited to add:
Managed to plow my way through. My state (Wisconsin) was one of them by about 4.6% or so.



[edit on 9-10-2008 by Deson]



posted on Oct, 9 2008 @ 07:10 PM
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Deson,

I found another link that has an alphabetical listing. Proud to say my state isn't on there... yet.



posted on Oct, 9 2008 @ 07:13 PM
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Has anyone mentioned to these states, especially CA, that if they downsize the government and the spending, their budget problems will take care of themselves?

Our, um, fearless leaders just used tax money to bail out our economy, now my tax money is going to get to be used in states I never will go to because they are overspending?

I need to find some uninhabited island, trading with the monkeys for coconuts seems a better economic plan than we are seeing right now.



posted on Oct, 9 2008 @ 07:17 PM
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Interesting. Two different sets of Numbers for Wisconsin (My state):

Site 1 listed a $527 million, 4.6% shortfall.

Site 2 listed a $652 million, 4.8% shortfall.

So the big question to me is which is the more accurate one?
Knowing my luck it'll be the more expensive one. (sigh)



posted on Oct, 9 2008 @ 07:18 PM
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Originally posted by salchanra
Has anyone mentioned to these states, especially CA, that if they downsize the government and the spending, their budget problems will take care of themselves?

Our, um, fearless leaders just used tax money to bail out our economy, now my tax money is going to get to be used in states I never will go to because they are overspending?

I need to find some uninhabited island, trading with the monkeys for coconuts seems a better economic plan than we are seeing right now.


In the article it stated that at least one of the governers had tried to cut government spending, but still came up bankrupt.

There are a lot of people calling for revolution now but I persoanlly think secession would be more effective.

[edit on 9-10-2008 by asmeone2]



posted on Oct, 9 2008 @ 07:22 PM
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Should you all be attending economics 101?

Every single state, and the entire country, gets its funding via TAXES. And who provides that funding....TAXPAYERS.

So, to crunch it all down to a nutshell that is easily swallowed...

..every single state cannot survive, or the entire country, without revenue from TAXES.

Tax payers pay through income tax, property tax, sales tax, and a good number of other labled taxes.

Class dismissed.


Cheers!!!!



posted on Oct, 9 2008 @ 07:28 PM
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I have not looked at the list but have a sneaking suspision that when i do there will be a direct corralation to illegal immigration rates. Millions of people paying no taxes but taking from the people will have an effect eventually. 1st the states then the country. No surprise hear Cali is first to need help.

I don't know about your states but isn't Colo. and Wash. having immigration issues. Along with Az., NM?



posted on Oct, 9 2008 @ 07:29 PM
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reply to post by RFBurns
 


The states are supposed to have enough to pay for their own government through state income taxes or whatever else they have in leui of that.

This article is saying that even after SIT are collected, these states are still coming up with deficits.

Property taxes and sales tax--at least here in Texas it could very well be different elsewhere--do NOT go through the state capitol. They are enacted on a city or countywide basis.



posted on Oct, 9 2008 @ 07:31 PM
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Originally posted by anotherdad
I have not looked at the list but have a sneaking suspision that when i do there will be a direct corralation to illegal immigration rates. Millions of people paying no taxes but taking from the people will have an effect eventually. 1st the states then the country. No surprise hear Cali is first to need help.

I don't know about your states but isn't Colo. and Wash. having immigration issues. Along with Az., NM?



Ding ding ding.

You get a lolipop.

We are not in deficit here but we have a huge imigration problem... it is really frustrating because by and large, the state and local governments are trying to fix it, but as soon as we actually put a program in place do do so, someone from the Feds or another state tries to undo it.



posted on Oct, 9 2008 @ 07:37 PM
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reply to post by asmeone2
 


I missed a couple after looking at the list, but noticed a majority are border states. Also i will Add my state has a huge deficeit but nothing being filed as we are in an election year an the incumbant is saying there is no problem.

I said CO. are they in an election year for governor too?



posted on Oct, 9 2008 @ 07:40 PM
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Well, California has been in trouble for a number of years now. Of course, from my understandin, much of this is due to the state's own bad fiscal policies.



posted on Oct, 9 2008 @ 07:50 PM
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Originally posted by anotherdad
reply to post by asmeone2
 


I missed a couple after looking at the list, but noticed a majority are border states. Also i will Add my state has a huge deficeit but nothing being filed as we are in an election year an the incumbant is saying there is no problem.

I said CO. are they in an election year for governor too?


I don't remember, I don't live there, but I would bet that if one were to investigate there could be drawn a direct correlation to illegal immegration and border state deficits.



posted on Oct, 9 2008 @ 10:13 PM
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Illegal immigration is always a scapegoat. And people always fall hook line and sinker for it. That way you start blaming certain races instead of Government. Government sure knows how to keep the pressure off their poor job performance. They pay no taxes is BS. How much taxes you think they pay on food, beer, cigs, clothes,gas, etc.


California from what I get is not asking for a bailout, they are asking for a short term loan to be repaid around April once they get revenue coming in. I don't
see why government shouldn't do it and make some money off something for once.



posted on Oct, 9 2008 @ 10:16 PM
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Originally posted by jam321
Illegal immigration is always a scapegoat. And people always fall hook line and sinker for it. That way you start blaming certain races instead of Government. Government sure knows how to keep the pressure off their poor job performance. They pay no taxes is BS. How much taxes you think they pay on food, beer, cigs, clothes,gas, etc.


California from what I get is not asking for a bailout, they are asking for a short term loan to be repaid around April once they get revenue coming in. I don't
see why government shouldn't do it and make some money off something for once.


Scuse me but might I ask where you live?

Around here it is not a scapegoat.

It is a growing problem with very tangible effects.




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