Repent! The Day of Reckoning IS At Hand!

"Look at me...you think I'm joking when I say 'a modest proposal'?!?"

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 My roots are in Jersey.  It’s where my family is from, my wife’s father and his family is from – but we all call ourselves Virginians now because we left the insanity that is known as The Garden State.  I unapologetically call it The Armpit Of The Union.  High taxes, they generally hate your gun, filthy cities, liberal as Hell, and you can’t even pump your own gas (the ESL guy has to do it for you so he can have a job).  Jersey basically is pissed that NYC is right across the river and they take it out on its citizens.

   For whatever reason, the state was blessed with Chris Christie however, and possibly just in time to save it from itself.  For all the semi unfair bile I just regurgitated against the state, it’s still America and I am a fan of its governor.  He sees the trainwreck his state is moments before its going to happen (but still far ahead of everyone else) and he has the balls to try and throw the brake before its too late.  Sure, there’s wailing and gnashing of teeth in Trenton – and for good reason.  He’s probably going to have to raise taxes.  I’m not a fan, and neither is he – but he realizes that to save this patient, there is going to have to be more pain…but he also recognizes that he doesn’t have a revenue problem…he’s got a spending problem.  Hence the spending freezes, the program cuts, and most famously – his head on fight with the public sector union and their entitlement programs…and his isn’t the only state.  You see the drama unfolding in Wisconsin as we speak.  The same story can be repeated across this country and generally the more populous the state and liberal your legislature is, the bigger the problem you have – hence why Christie and NJ are the canaries in the coal mine.

  Almost 2 months to the day, 60 Minutes did a story on this brewing crisis…and that is what this is, this thing is brewing as it’s just the beginning.

http://www.cbsnews.com/video/watch/?id=7166293n&tag=cbsnewsMainColumnArea.10

  What do you think is going to happen to all of those whining public sector unions when the state goes tits up on it and declares bankruptcy?  I don’t have a pension as management at a small, manufacturing plant even though I am a manufacturer whose business actually creates high paying jobs and pays taxes to the government.  The best I can do is having a matching 401K and not get raked over the coals on my health insurance as a young person with a kid on my plan.  Thank God my wife has her own plan at her work – things really jump up for a family plan.  But I don’t complain – that is the reality of working in America today.  The other side of the reality is that the taxes FROM the my workplace go to pay for a state employee who is probably living a bit too high on the hog with a pension and life-time health-care benefits because they got a good deal from the state because of their collective bargaining when things were better.  They work for an inefficient bureaucracy that we give too much money to for too little result – and they want to have life-time retirement plans for being a part of a business like that!  That my friends, is the problem with more government – its easy to spend SOMEONE ELSE’s money – to paraphrase Margaret Thatcher.  God forbid that government go back to the state unions with their sweetheart deals and say ‘the times have changed, we’ve made too many promises to too many people and created too much inefficient bureaucracy – something has to give because we simply don’t have the money anymore’.

  What the unions don’t get is that they can bitch and moan and try to squeeze every last dime out of the government, but it will drive the government to insolvency and then they could get nothing and it certainly will be less than any deal struck to try and head off the mess; because once you’re insolvent, all the cards are on the table then whether you want them or not.  Between these 50 states that make this great country, there is an estimated 1 TRILLION+ dollar shortfall (that’s from Pew Research) and that is what they can see before you actually get into the cooked books.  You and I both know that if citizens or businesses ran their personal budgets like the state and federal government does, then we’d be both bankrupt and in jail.

  If we don’t get more Chris Christies then some states will have to declare themselves insolvent.  I bet a lot already are, they just won’t admit it.   The states just don’t have the money and the obvious sin of the past that is coming back to haunt them are the juicy public sector entitlements because its easy to pass the buck on to future generations.  Well, they’ve been doing it via bad deals for over 50 years and now the day of reckoning is at hand.  No more high property taxes to leverage against and paper over the mess – the tide has receeded and the state governments have been found to be naked!

Yes, there has been talk about a federal bailout.   ANOTHER expenditure of money we don’t have that doesn’t even get to root of the problem – so you could have similar problems in future years.   That’s going to go over as well as a turd in the punchbowl in DC and the reality of the matter is that the The House of Representatives will never pass it, and that is because of who the citizenry has elected there for the time being.   You want to talk about people in the streets?  How do you think I’ll feel because myself and my kids (and grandkids) have to pay for those bailouts because New Yorkers, Californians, and Wisconsinites think they are entitled to their dinosauric yet juicy public sector programs? 

 It’s another form of a redistribution of wealth and socialism at its worst.  Your states made the bed they lie in, don’t pass the buck the to rest of the country.  Let your states and pensions fail, then you’ll wish you would have worked with the Chris Christies out there.  I’m telling you, repent before its too late…

– G.S.

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