42 Of 50 US states will be in 2009 in Deficit

While we see California steadily declining and becoming like the Federal Government living in an ever increasing deficit. . .

The Center on Budget and Policy Priorities,

lists 42 of 50 states which will be in deficit in 2009 for a total of over $106 billion – more than one third of this total is California’s alone. In 2010 the projection gets worse, as 46 states project shortfalls of a staggering $133 billion. By 2011 only Montana, North Dakota and Wyoming are expected to still be in the black.

www.economyincrisis.org...

While the Federal government is backing up this states deficits due to too big government spendings and irresponsible fiscal policies the nations deficit keeps growing and growing.

Should we be concern?.

Yes we should, because this spending and deficits eventually will lead to higher taxes not only by the state governments but the Federal Government itself.

But what states doesn't tell you is that many of them are wasting tax payer money in the state to keep foreign companies operating in those states. They offer free land, incentives and low taxes that add to billions more on state deficits.

All at the cost that doesn't add to the jobs that those foreign companies add to the states so the state and the tax payer become losers.

Meanwhile the states are cutting on the poor and the most vulnerable our children.

Does this seems fair? but this how the irresponsibility of most states policies, as the next year budgets is planned, as taxable income in states decline, this states have to find ways to finance those budgets.

Do you know how your state stand on the deficits? Do you know how your state is going to support their budget? what cuts they will be doing that will affect you, your children and livelihood?

This is the list of state with Budget deficits, how your state stand on this list.

www.cbpp.org...

This states will be cutting on what perhaps you think that they will never touch just to be able to maintain their over inflated government spending and all those good for nothing that seat on their big butts while you the tax payer makes them comfortable, but while they still get pay you will be hit with their irresponsible spending.

They will target, Low income children's health care services, the elderly and disable, and they can not stop there they will cut in the education of our children, college and Universities.

Life in America will not be getting any better but we will be reversing back to pre-industrial status, just because state governments and the Federal government has gotten too big to sustain at the expenses of tax payer.

reply to post by marg6043

This has been revised upward to 47 of 50 states.

Guess they did not realize that sometimes problem A
can make problem B worse.

All the different aspects of the several problems are
all affecting the other problems in unexpected ways.

I am waiting for the derivatives fiasco to fully let go
to the tune of 100's of trillions, that will be the end game
for the financial sector in my books.

We have 68 different Visas to import cheap labor, and
we have almost the entire manufacturing sector shipped
overseas and the Automakers soon to follow suit.

We have a U6 unemployment rate of near 20%, they
only report the U3 number to the public.

We have a war in Iraq, Afghanistan, soon to be Pakistan,
and good odds on Iran and North Korea.

With Uranium shipments coming from Venezuela to Iran we might
see some action there as well.

World War 3 is looming, and the Congress Critters are putting
$90,000 in stimulus into things like a new frisbee golf course
in Austin, TX.

In 90 days enough guns were sold in the US to outfit the entire
Chinese and Indian military combined.

90 day massive gun sale figures

We may be closer to facing 1865 than 1934.

The great depression was worse than what we are experiencing now,
but keep in mind at the time we did not import 80% of our oil.

We are poised for a degenerative feedback loop where problems
of one nature cause other ones to get worse and the cycle starts
to spiral downwards akin to the domino effect.

We have seen a 44% drop in revenue to the IRS.

What do the monkeys in DC do ? They start talking a 10% federal
sales tax on top of the current sales taxes !

Millionaires in Maryland facing a huge tax increase targeting only them
decide to leave the state to the tune of 33% of them.

33% of Maryland's Millionaires flee the state

A storm is coming...

A word of advice you cannot fight a force of nature, and that is what
is coming, your best plan is to just to get out of the way and be
ready for something akin to major riots in a large number of cities.

I give you 700 ppl applying for a janitor job at a high school.

700 ppl apply for janitor job in ohio

We have entire cities considering disincorporating so they do not have
to pay the pensions and other obligations they cannot afford.

Cities plan to disband to dodge pensions and other expenses

This is all going to feedback into a loop of ppl not getting their retirements,
and unemployment that will surpass the Great Depression because
a lot of jobs have been shipped overseas and we have 68 Visas types
and millions of illegals to work for lower wages to displace citizens.

In my humble opinion it is so bad it looks like it was planned.

Good Luck to you all !




[edit on 28-5-2009 by Ex_MislTech]

Thanks for the update, but as job claims keeps increasing, todays data released shows, states have to get money to support the unemployment budget that is becoming also unsustainable with over 6 million people the highest ever in the nation.

Many people doesn't understand the dynamics of how related taxable income is to how the nation can sustain itself.

Job decline means less taxable income generated, The nation is now at a 44% percent income lost.

Very soon people will start to migrate to those states that still have a lower deficit looking no for jobs but for social programs.

But that is good and dandy because we are told that the economy is doing better.

No, until job declines stop and job Creation increases we will still be in a recession/depression.

Looks like not even the states will have the power to save us from fascism. I am glad I live in Texas though after reading that chart.

Err . . . that chart shows TX as having defecit.

We do not have a defecit.

In fact, by law, congress can't approve a budget that is in the red.

Considering the state budget was approved for the next two years . . . they are in the black (and even have extras for a frisbee course in Austin, and to do extra stuff).

Early Saturday morning, just after 4:00 AM, the Texas House of Representatives unanimously approved a $178.4 billion budget for 2010-2011.

During the 18 hour budget marathon, the House took up 225 amendments, increased funding for both college financial aid and child healthcare coverage, and managed to keep controversial legislation off the floor.

“I appreciate the outstanding work of Appropriations Chairman Jim Pitts, Vice Chair Richard Raymond, and all Members of the House of Representatives for passing a sound budget which is fiscally responsible and funds essential government services,” commented Texas House Speaker Joe Straus.

House Budget highlights:

- General revenue spending reduced by 2.5%
- No dollars used from the state’s Rainy Day Fund
- Increased funding for education and healthcare
- Pay raises for workers in adult and youth correctional systems
- Federal stimulus dollars spent only on one-time expenditures

Link

So while everyone else is cutting services . . . Texas is expanding their social services . . . and staying in the black!

Eat that.

I love Texas.


[edit on 28/5/2009 by xxpigxx]

reply to post by xxpigxx


Well when the exodus of the welfare recipients starts to leave California after all the cuts that the governor will be doing, I guess Texas will be the next place for the free loaders and the illegal immigrants trying to get state benefits for their born American children.



Texas better start closing their borders.

reply to post by marg6043


At which point we use our surplus money to protect our borders on our own.

That will be when other welfare states starts to cut on their social programs too.

Very soon either states starts to gouge the reminding taxable incomes to pay for the ones that have "needs" and produce no income or they will have to cut on benefits, something that they already are doing.