Ed Driscoll (circa last summer) quotes LA
cash cow exploiter of the workers greedy polluter businessman Rick Newcombe:
“I never could have imagined that, after living here for more than three decades, I would be filing a lawsuit against my beloved Los Angeles and making plans for my company, Creators Syndicate, to move elsewhere.
But we have no choice. The city’s bureaucrats rival Stalin’s apparatchiks in issuing decrees, rescinding them, and then punishing citizens for having followed them in the first place.”
Socialism: if you build it, they will leave.
It’s the Wrath of Grapes.
“It certainly puts us in a position of looking like deadbeats,” said Sen. Mike Jacobs, an East Moline Democrat who got an eviction notice last year from a longtime friend who has rented the same building for years to the senator and his father before him. Payment eventually arrived — nine months late…” …
“When they can’t pay the rent of a Senate office, there’s no way they’re going to be able to pay the hundreds of millions of dollars in bills that they have back due,” Duffy said. “It just shows what a tragic crisis we’re in and how far out of hand this is.”
The voters can’t point the finger at state government as if they had nothing to do with their state’s current mess. They must share some of the blame for continually reelecting those bozos.
Now that the Democrats have spent Illinois back to the stone age, Illinois’ Democrat governor Pat Quinn wants to raise the state income tax by a third, from 3% to 4%. Not only are the Democrats irresponsible spenders, they’re irresponsible taxers, too. …
The Democrats’ terrible management of the Illinois state budget makes me think of a sign I used to see in a few offices of people I used to work with a number of years ago:
Poor planning on your part does not constitute an emergency on mine.
Actually, it’s so bad that it might rise to that level.
And in the face of this, Congress is trying to pass the Most Expensive Program In the History of the World.
Social Security to start cashing Uncle Sam’s IOUs
For more than two decades, Social Security collected more money in payroll taxes than it paid out in benefits — billions more each year.
Not anymore. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes — nearly $29 billion more.
Sounds like a good time to start tapping the nest egg. Too bad the federal government already spent that money over the years on other programs, preferring to borrow from Social Security rather than foreign creditors. In return, the Treasury Department issued a stack of IOUs — in the form of Treasury bonds — which are kept in a nondescript office building just down the street from Parkersburg’s municipal offices. …
They are stored in a three-ring binder, locked in the bottom drawer of a white metal filing cabinet in the Parkersburg offices of Bureau of Public Debt. …
“Those bonds are protected by the full faith and credit of the United States of America,” Kennelly said. “They’re as solid as what we owe China and Japan.”
Yeah–that’s what we were afraid of.
UPDATED UPDATE: Weekly Standard:
Albany, a political “enterprise zone,” is a paradise for lawmakers who have gone into business for themselves. In a state which between 2000 and 2008 experienced a domestic outmigration of 1.5 million people—the highest in the country—almost the only job growth has come from the rapid rise in the number of lobbyists. Between 2000 and 2007 the number of lobbyists doubled from 3,000 to 6,000, while money spent on lobbying grew even faster, jumping from $66 million to $171 million. That makes New York the lobbying capital of America with 24 lobbyists per legislator. Illinois, the land not of Lincoln, but of Blagojevich, is a distant second with 12. And of course since lobbyists need people to lunch with, Albany has the second largest legislative staff (after Pennsylvania) in the United States. Albany’s 212 legislators employ 2,751 staffers, that’s 650 more than California which has almost twice the population.
UPPER PENINSULA UPDATE: the Mackinac Center:
In explaining his refusal to vote on a resolution that would cancel a 3 percent raise for state employees, State Sen. Bruce Patterson, R-Canton, cited the opinion of the state’s budget director that such an action would constitute an “unfair labor practice.”
This is simply not so. …
The bottom line is the Legislature has always had the authority to prevent pay raises authorized by the CSC, and collective bargaining agreements between the state and unions representing its employees have always been subject to the Legislature’s acquiescence. Because this override has not been used up until now, the confusion is forgiveable.
How it’s done; Gov. Christie:
“The defenders of the status quo will start chattering as soon as I leave this chamber. They’ll say the problems are not that bad. The governor is overblowing it. Listen to us, we can spare you the pain and the sacrifice. This has been the siren song for too long, and we know that it is simply not true. New Jersey has been steaming toward financial disaster for years due to that kind of attitude.”