The US House of Representatives passed their 2012 budget. While it does well to open the doors and conversation towards a reform of entitlement spending, especially in Medicare and Medicaid, it doesn’t do enough to handle spending, debts and the deficit.
Even though there are $6 trillion in cuts, it takes place over 10 years and there are still deficits for 2012 ($1 trillion!) and more deficits way into the future, as much as $391 billion into 2021. This isn’t good enough!
Ruling class Republicans still can’t shed their Washington ways and they are risking a third party by the Tea Party and others in the popular wave building in the US. The party is likely to vanish in importance in about 5 years.
While Wisconsin was getting all the press, protests and outside attention, Ohio has gone forward with a new union restraint law that effects a much larger union government workforce than Wisc, 360,000 govt workers. This gives the state a shot and getting its budget under control.
“Ohio is far more important to the union movement. It has the nation’s sixth largest number of public sector union members, which is twice as many as Wisconsin.”
“Financial expert, Meridith Whitney, has ranked California as being in the worst financial condition.“
California has an $86.6 billion budget, and already has a $25.4 billion shortfall. Are you kidding me?
What geniuses ran this huge government monstrosity into the ground?
And guess what the state debt is. It’s $290,855,041,516 – or – $290+ billion for those of you who don’t like counting numbers and commas.
A new ranking has the US 28th among countries of the world. We rank worse than Mexico!
Interesting video below of David Walker, former US Comptroller General, who says that Social Security is $38 Trillion under water, and that even when the economy recovers fully it will not resolve these problems, nor will trying to inflate our way out of this. The entitlement programs must be reformed! But politicians won’t fix them.
“California’s illegal immigrant population is costing the state’s taxpayers more than $10.5 billion per year for education, medical care and incarceration”
- Free Education for Illegals: costs of K-12 schooling approximately $7.7 billion annually.
- Free Health care: about $1.4 billion a year.
- The cost of incarcerating illegal aliens: about $1.4 billion a year.
This is a report from 2004. Imagine how high the cost is now!
Just like almost every local and state govt, San Francisco is crushing itself from giving enormous benefits to their govt union employees.
It’s now about $1.1 billion short in pensions promised to govt workers, and about $4 billion short it owes union workers in health care benefits.
Within 5 years annual city spending on health care benefits and pension costs will exceed their entire budget for the running of “the Police Department, Fire Department, Sheriff’s Department, district attorney’s office, and adult and juvenile probation departments combined”.
What will they do to handle this?
Even if city cuts 20% of budget, it won’t solve the current deficit of over$ 380 million.
It is already illegal for government union workers to collectively bargain in Virginia and Texas.
While the media has focused attention on Wisconsin, limits on government union worker collective bargaining have been introduced in several other states: Ohio, Tennessee, Idaho, Indiana, Kansas, Iowa, Colorado, Nebraska, Nevada, Oklahoma, New Mexico and Washington.