Kansas Suspends Income Tax Refunds, State Payroll, and Funding to Schools and Other State Department, page 2
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ATS Members have flagged this thread 29 times


reply posted on 16-2-2009 @ 02:33 PM by Doomsday 2029
reply to post by projectvxn




CNN... while it is still a controlled media... is the only news station I feel is actually balanced.

It's the only news station I go to... even though it's still controlled, filtered, dirty, and lies like all of them... at least it's not far right or far left.


reply posted on 16-2-2009 @ 02:36 PM by projectvxn
reply to post by j2000



It was only a post and I was just repeating what I heard on the news.
But I have started a few threads on California and the coming bond bust.

www.abovetopsecret.com...

These are all of em. Have a look.


reply posted on 16-2-2009 @ 02:40 PM by projectvxn
reply to post by MOFreemason



I agree. Politics is no replacement for facts and figures. Economics is all about facts and figures. When the two meet we get ideological economic policies and we wind up in situations like these.

I don't know the details of the issue there, I can only assure you that this won't go well. Taxes will go way, way up and they will shoot debt through the roof until they bankrupt everyone in their state at the personal level. This is a process being repeated in every single state barring about 3.


reply posted on 16-2-2009 @ 02:42 PM by MOFreemason
reply to post by projectvxn



I wonder how many states are in similar situations to KS, as we haven't heard too much about state conditions other than CA, MI, and NY.


reply posted on 16-2-2009 @ 02:51 PM by projectvxn
reply to post by MOFreemason



Well 43 have reported record shortfalls, the same 43 that are operating on "shoestring budgets", or what they call shoestring budgets. The federal government will not be able to cover the amount of debt that the individual states have racked up. Let alone the 12 and a half trillion we have spent on bailouts, wars, government expansion, and corruption on the federal level. We are screwed. There's just no way around it.


reply posted on 16-2-2009 @ 02:53 PM by MOFreemason
reply to post by projectvxn



We are screwed. And this federal stimulus package is only short-term relief.

The fact of the matter is, the states are not generating enough tax revenue to pay for their expenses. That means, they will either have to drastically slash state services or raise taxes.

Either way, nobody wins.

Of course, the third option....just plain default. Not sure if that's even possible or not though.



reply posted on 16-2-2009 @ 03:00 PM by MOFreemason
reply to post by j2000



Amazing. I was under the impression it would help buy a few months, at least. But weeks...ugh.


reply posted on 16-2-2009 @ 03:01 PM by j2000
reply to post by Tgautier13



Your lucky. The state just ran out. I will be out of luck for now.


reply posted on 16-2-2009 @ 03:01 PM by MOFreemason
reply to post by Tgautier13



The income tax refunds, state payroll, and funding to state agencies/departments has been suspended indefinitely, effective today.

You and your mom had excellent timing!


reply posted on 16-2-2009 @ 03:01 PM by projectvxn
reply to post by MOFreemason



It is most certainly possible. And has happened before to many countries. Ecuador was the first in this mess.

www.abovetopsecret.com...

Iceland just collapsed entirely:
www.abovetopsecret.com...
www.abovetopsecret.com...
www.abovetopsecret.com...

And Zimbabwe, whose monetary policy we are mirroring has managed to inflate it's currency so much that it takes trillions to buy eggs.

www.abovetopsecret.com...


[edit on 16-2-2009 by projectvxn]


reply posted on 16-2-2009 @ 03:03 PM by j2000
reply to post by MOFreemason



Wow. Talk about hitting home. I really didn't think Kansas would be one of the first. I thought we would be good until the close to the end.

What a bummer..........

I guess I am going to go and get a flag and put it upside down in the front lawn. I would say we are in "distress".



reply posted on 16-2-2009 @ 03:08 PM by j2000
reply to post by Tgautier13



The 225 million will not last very long at all. Don't get your hopes up.


reply posted on 16-2-2009 @ 03:08 PM by projectvxn
reply to post by Tgautier13



Why not that's what California is doing. The STILL can't agree on a budget and they've suspended all kinds of things:
UPDATE 1-California lawmakers fail to pass budget
LOS ANGELES, Feb 15 (Reuters) - California lawmakers narrowly failed to pass a $40 billion budget on Sunday, casting doubt on Gov. Arnold Schwarzenegger's ability to prevent the nation's most populous state from sinking into the abyss. Bleary-eyed senators in the state capital of Sacramento adjourned for the day after all-night horse-trading failed to generate the one Republican vote needed to ensure passage of the bitter mix of tax hikes and spending cuts. California, the world's eighth-biggest economy, is constitutionally barred from running a budget deficit, and has begun forcing state employees to take unpaid leave. State spending on infrastructure work has also largely wound down, adding to the drag on the broader U.S. economy, which appears to be facing a long and deep recession. Budget negotiations will resume on Monday, said senate leader Darrell Steinberg, after taking pity on lawmakers who had been confined to their offices by party leaders.

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