Forbes magazine has analyzed the financial condition of states and found the five in the worst condition and eight of the ten in the worst condition are blue states. Why? The answer is unions and social programs.
The Washington Examiner reported:
Forbes magazine has completed a comprehensive look at "The Global Debt Bomb" and in the course of compiling the results found this very interesting tidbit:
"The five states in the worst financial condition--Illinois, New York, Connecticut, California and New Jersey--are all among the bluest of blue states. The five most fiscally fit states are more of a mix. Three--Utah, Nebraska and Texas--boast Republican majorities and two--New Hampshire and Virginia--skew Democratic."
3 comments:
You state: "Forbes magazine has analyzed the financial condition of states and found the five in the worst condition and eight of the ten in the worst condition are blue states. Why? The answer is unions and social programs."
OK, I grant you that Unions sometimes demand too much and social programs are frequently abused. However, A balance between unions and corporate wealth created the large middle class who was able to purchase the goods that are manufactured. I have never heard that either of these two were the cause of the economy collapse.
So who is the real culprits that collapsed the economy besides the obvious, Mortgage Brokers and Bankers creating chocolate covered turds, Wall Street eating the real chocolates and selling the turds and then asking the taxpayer to bail them out when they got caught, so the government (taxpayer) now owns the turds. Then they gave themselves bonuses with the taxpayer money.
Were the unions also given bonuses? No, they got laid off. Since unions tend to vote Democrat, does that mean that the Corporate Heads that caused this mess are generally Republicans? If not, where was all the corporate money coming from to buy the election?
What money managers at the Federal level let China get away with setting the Yuen so low that it is possible to manufacture goods in foreign countries and ship they around the world for less than you can make the same thing at home?
Our US dollar was valued much too high compared to Asian countries. And this decision allowed, no caused millions of US jobs to be moved overseas by Corporate Heads.
We also must not forget the trillion dollar wars started by the Cheney administration. Sure it created jobs but at what cost?
With this money we could have colonies on the moon, be exploring Mars and many other useful projects.
David of Hawaii, an Independent. 20 yr vet.
An interesting trend between these states is that they are ranked the among the lowest in Federal Spending per dollar of Federal taxes paid. Meaning NJ gets 61 cents for every dollar they spend in Federal Taxes. No wonder states like NJ, Conn. and CA, are paying high taxes and are stilling facing economic shortfalls, it is because they are supporting the other poor states, not because of unions. Until these 5 states reach economic stability they should receive at least dollar for dollar spending from the the Fed and not have to subsidize other states.
you are kidding, right!!!
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