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View Full Version : U.S. Issues States Can't Count on Federal Bailout, Obama Appointees Say


petegz28
07-12-2010, 03:43 PM
http://www.bloomberg.com/news/2010-07-11/states-can-t-count-on-more-federal-bailout-money-bowles-tells-governors.html


States have projected total budget deficits of $127 billion through 2012, according to a report last month by the governors association and the National Association of State Budget Officers.

petegz28
07-12-2010, 03:44 PM
We can't bail out the States but yet we can hand over $1 tril + to Wall St, Fannie and Freddie.

Saul Good
07-12-2010, 06:21 PM
We can't bail out the States but yet we can hand over $1 tril + to Wall St, Fannie and Freddie.

I hope you aren't suggesting that we should.

petegz28
07-12-2010, 06:42 PM
I hope you aren't suggesting that we should.

Not sure if we should or shouldn't? I am sure each state needs to be reviewed on a case by case basis as to why they are in the hole.

Saul Good
07-12-2010, 06:44 PM
Not sure if we should or shouldn't? I am sure each state needs to be reviewed on a case by case basis as to why they are in the hole.

Either way, if you think that Obama is going to let California and Illinois go broke without bailing them out, I've got a bridge to sell you.

HonestChieffan
07-12-2010, 07:24 PM
Good news if we do not bail out the states. This entire bail out thing has got to stop. States like the federal government have got to figure out what they can afford and what is excess and do away with what is not affordable. States with balanced budget requirements do just fine. States Like Illinois and California need to wake up. New Jersey is showing the way with a leader with balls to say no.

The federal government could cut 15-20% from everything they do and not cut benefits in most areas of they went on a major overhaul and started cutting waste.

chiefforlife
07-12-2010, 07:33 PM
Who's going to bail out the Federal Government? This shit has to stop.

Saul Good
07-12-2010, 07:38 PM
Who's going to bail out the Federal Government?

China! /Obama crossing fingers

Taco John
07-12-2010, 07:46 PM
Good to hear. There is absolutely no way we should be bailing out the states.

Saul Good
07-12-2010, 07:53 PM
Good to hear. There is absolutely no way we should be bailing out the states.

"We" wouldn't be bailing out the states. Apparently, you need to do a little research on where that money comes from.

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Saul Good
07-12-2010, 07:56 PM
Just as an aside, it's a pretty great visual if you can imagine Arnold Schwarzenegger being the interviewee while lining up for money chanting Obama in his Austrian accent.