brckwlt wrote: tvb wrote:
She could probably use a membership in the book of the month club and probably the newspaper of the month club. Oh, and the geography lesson of the month club ...
Maybe the republican leadership should have bought her some books instead of those clothes.
If she is so stupid then how come alaska is doing so well and doesnt need government bailout money. Not to mention other conservatively run states that dont need or want bailout money either. The states that are doing the worse and need the most bailout money are all liberal states and run into the ground by high taxes. High taxes kill income for states but democrats have such a huge love affair with taxing anything and everything. They dont even care that it is bankrupting their states. The problem with democrats and liberals is they fear a powerful fiscally responsible woman.
Same thing happened in maryland. Republican governer 2 years ago left us with a budget surplus. New democrat governer came in. Called a special sessions and raised every tax he could think of. Now the state is billions in debt. It doesnt take a genius to figure out that raising taxes and spending money we dont have isnt a good idea.
Let's keep our eye on the ball here. The Federal Reserve has been printing money by the bushel since Alan Greenspan took over. And then "Helicopter Ben" continued the same policy.
"Free money" induces "moral hazard". That is, it entices people to make decisions they might not otherwise make. And even if you have tons of self control, how long can you resist when the gravy train is passing you by?
We all know that lots of people bought houses they couldn't afford. But lots more people re-fi'd their house to put on an addition, buy a bass boat, or take a vacation.
But states also did things like hired a bunch of people and started projects that they really wanted. They did it by selling bonds, or refinancing old debt. Like everyone else, they took a little extra. And they could do it without raising taxes, much or at all. Gotta keep those voters happy. Happy voters don't make wholesale changes in the state house do they?
And now, like everyone else, their investments went belly up, people are getting laid off so income and sales tax receipts are plummeting and the states are strapped.
So again, the Federal Reserve comes to the rescue, prints a ton of money and we have a "stimulus". Some states are making the hard choices and cutting personnel and projects and some are not. When the Fed stops printing money, we'll see who made the right move and who didn't.
But the root cause is Congress trying to be everything to everyone and the Fed happily going along. Because they get paid interest on all this "free" money.