The 10 States Most Struggling to Pay Bills

[Bigfatbillsfan]

Luckily for those 3 states the computation is a percentage of GDP, not the size of their debt or what their future obligations truly entail.

 

California, Massachusetts, New York, Illinois, and Texas are ALL staring massive debt in the face because of their "far too generous" public employee pension obligations. We're only at the tip of the fiscal crises right now - it's only going to get worse. Mostly because so many people (like you) desperately cling to their retarded partisan politics instead of facing reality.

 

I'm not even a democrat dipshit. And yeah, people in those states are going to have to make some concessions with public employee pension programs if they want to get out of this.

 

Whether or not we are at the tip of the crisis remains to be seen. It depends upon the direction of the economy in the coming years. But even if it gets better the deficit and debt need to be addressed. And the best time to do it would be during economic upturn rather than downturn.

 

So when the economy is starting to crank up again come back and talk about how we are going to lower them. But now isn't the time. Just like it isn't the time to raise taxes.

 

http://www-personal.umich.edu/~mejn/election/2008/

 

 

So, 9 out of 10.

 

So now that you've gone and dug out a map the shows something almost completely different than what you claimed in the OP do you think that the demographics are still the same in those states 4 years later? Have their been no changes in state policies in that time?

 

Your argument just plain sucks. I'm sure I can find an article and then pin it to a map to try and prove my point. It's nothing more that manipulating statistics and doesn't really say anything.

 

And Arizona is only red because of McCain? Pleas, don't make me laugh.

[IDBillzFan]

California, Massachusetts, New York, Illinois, and Texas are ALL staring massive debt in the face because of their "far too generous" public employee pension obligations. We're only at the tip of the fiscal crises right now - it's only going to get worse. Mostly because so many people (like you) desperately cling to their retarded partisan politics instead of facing reality.

Fortunately for California, we have someone in the state legislature who has found an answer to our "far too generous" public employee pension obligations: Create mandatory PRIVATE employee pension programs that will be managed by the state.

 

Yes, that's right. Any employer with 5 or more employees would have to set up a pension program, and every employee would have to put in 3%. The company can match if they wish. The fund would then be managed by the group that manages the state's pension plan, CALpers, "or another contracted organization."

 

No. I'm not kidding.

 

The UC Berkeley Center for Labor Research and Education figures about 62 percent of working Californians – more than 7 million people – have no retirement savings through their employer. If all of them put 3 percent of their wages into a retirement fund, the pot of money would grow to $6.6 billion in the first year, say university researchers.

 

When you think about it, it's genius really. Image the state getting access to $6.6B in just one year. Surely that would be enough to help fund the current crop of soon-to-be unfunded pensions.

[Alaska Darin]

I'm not even a democrat dipshit.

Sure you're not. lol:

And yeah, people in those states are going to have to make some concessions with public employee pension programs if they want to get out of this.

Duh.

Whether or not we are at the tip of the crisis remains to be seen. It depends upon the direction of the economy in the coming years.

No, it doesn't. But that's the kind of gem I've come to expect from you. The economy could grow at 10% every year for 20 years and these states still wouldn't be able to pay down their obligations and continue to fund all of the programs they've put in place.

But even if it gets better the deficit and debt need to be addressed. And the best time to do it would be during economic upturn rather than downturn.

Yeah, let's go ahead and wait for things to get better. Maybe we can all sit in a prayer circle and chant.

So when the economy is starting to crank up again come back and talk about how we are going to lower them. But now isn't the time. Just like it isn't the time to raise taxes.

Actually, now is the EXACT time. When the economy is good, politicians NEVER spend less money or enact fewer programs for the people who put them in office. That's why we're in this predicament in the first place. But you have the audacity to call someone else is a dipshit?

[Bigfatbillsfan]

Sure you're not. lol:

 

Duh.

 

No, it doesn't. But that's the kind of gem I've come to expect from you. The economy could grow at 10% every year for 20 years and these states still wouldn't be able to pay down their obligations and continue to fund all of the programs they've put in place.

 

Yeah, let's go ahead and wait for things to get better. Maybe we can all sit in a prayer circle and chant.

 

Actually, now is the EXACT time. When the economy is good, politicians NEVER spend less money or enact fewer programs for the people who put them in office. That's why we're in this predicament in the first place. But you have the audacity to call someone else is a dipshit?

 

Any solid #s to support this claim or just making crap up off the top of your head?

 

And yeah, I'd say if this is the crap that lives in your head you're a dipshit.

[Chef Jim]

Any solid #s to support this claim or just making crap up off the top of your head?

 

And yeah, I'd say if this is the crap that lives in your head you're a dipshit.

 

Who cares if he just made those numbers up. Anyway you look at it us folks here in CA are !@#$ed.

[IDBillzFan]

Any solid #s to support this claim or just making crap up off the top of your head?

You have to be a full-goose-bozo head-up-the-ass progressive to not see how a state like California is going to fiscally implode in the next five-to-ten years, regardless of the state of the economy.

 

Even if this state DID have an economic surge, which it won't, the people running the state would simply see new money for new projects. As it is, they are taking every penny they can get through new taxes and fees because they know the end is near and they don't have the nutsack to do anything about it. You have unions coming out of every hole in our terrain, from SEIU to NEA, electing politicians to work overtime to give free handouts to their members and illegal aliens; the left's ever-dependable voting block. Only a die-hard progressive would see this state as anything but FUBAR'ed.

 

Meanwhile, you can't even rent a car in San Francisco without the taxes and fees literally doubling the cost of a rental car, and hotels are pounding tourists with more ridiculous fees than you could possibly ever imagine. Come visit Disneyland and let us know how much of your vacation tab is taxes and fees. Have a meal in San Francisco and explain to us what the "Health Tax" is.

 

And what is happening as a result? Companies and people are leaving in droves. And even a dumbass like you knows what that does to the tax receipts. States like California aren't run by people smart enough to see a surge in tax receipts as a way to get out of debt. It's simply a way to pay for something new to keep them in office.

 

I would agree, though, that you're not a Democrat because that would be WAY too far to the right for your liking.

[Bigfatbillsfan]

You have to be a full-goose-bozo head-up-the-ass progressive to not see how a state like California is going to fiscally implode in the next five-to-ten years, regardless of the state of the economy.

 

Even if this state DID have an economic surge, which it won't, the people running the state would simply see new money for new projects. As it is, they are taking every penny they can get through new taxes and fees because they know the end is near and they don't have the nutsack to do anything about it. You have unions coming out of every hole in our terrain, from SEIU to NEA, electing politicians to work overtime to give free handouts to their members and illegal aliens; the left's ever-dependable voting block. Only a die-hard progressive would see this state as anything but FUBAR'ed.

 

Meanwhile, you can't even rent a car in San Francisco without the taxes and fees literally doubling the cost of a rental car, and hotels are pounding tourists with more ridiculous fees than you could possibly ever imagine. Come visit Disneyland and let us know how much of your vacation tab is taxes and fees. Have a meal in San Francisco and explain to us what the "Health Tax" is.

 

And what is happening as a result? Companies and people are leaving in droves. And even a dumbass like you knows what that does to the tax receipts. States like California aren't run by people smart enough to see a surge in tax receipts as a way to get out of debt. It's simply a way to pay for something new to keep them in office.

 

I would agree, though, that you're not a Democrat because that would be WAY too far to the right for your liking.

 

So I'll ask again; any solid numbers to back up those claims or is this just your opinion?

Edited February 27, 2012 by Bigfatbillsfan

[IDBillzFan]

So I'll ask again; any solid numbers to back up those claims or is this just your opinion?

Okay, so you ARE a full-goose-bozo head-up-the-ass progressive. Got it.

 

I'd suggest you have no argument and therefore are relying on everything being black or white, but I wouldn't want to be accused of being a racist.

[Magox]

So I'll ask again; any solid numbers to back up those claims or is this just your opinion?

A new PEW study puts California at the top of the pension debt crisis with at least $612 billion in obligations followed by New Jersey at $183 Billion and Illinois with a $150 billion.

 

The shocking new PEW study projected the country is on the hook for approximately $2 trillion dollars for all states, says Capoliticalnews.

 

Using the higher pension gap number, State Budget Solutions said California is in the biggest financial hole with total debt of more than $612 billion. New York follows with $305 billion of debt, and then Texas, with total debt of $283 billion. Vermont has the lowest amount of total debt at just over $6 billion, a story from Bloomberg reported.

 

Californias State Controller John Chiang explains Californias state pension crisis is causing big headaches for state politicians. According to the states latest money projections, the State ended last fiscal year with a cash deficit of $8.2 billion. The combined current year cash deficit stands at $17.6 billion. Those deficits are being covered with $12.2 billion of internal borrowing (temporary loans from special funds) and $5.4 billion of external borrowing).

 

When it comes to unemployment, 11.9 percent, California will borrow the most in the country to cover its unemployment benefit checks- $8.6 billion.

 

Keeping these financial concerns in mind Californias Governor, Jerry Brown will address state legislators on the pension tsunami flooding the state.

 

Given the paramount importance of pensions to both taxpayers and public employees, it is absolutely critical that we carefully examine our current assumptions and practices, Brown stated in a letter to Gloria Negrete McLeod (D-Chino), and Assemblyman Warren Furutani (D-Gardena). We have to do our best to make sure that we have a system that is fair and truly sustainable over the long time horizon that our pension and health systems require.

 

 

 

Is that solid enough?

Edited February 27, 2012 by Magox

[Bigfatbillsfan]

Okay, so you ARE a full-goose-bozo head-up-the-ass progressive. Got it.

 

I'd suggest you have no argument and therefore are relying on everything being black or white, but I wouldn't want to be accused of being a racist.

 

Well, I would suggest you're the one that mad the statement that the economy could grow at 10% for 20 years without them being able to pay their obligations. You're the one that needs to back it up.

 

And not being able to do so would make you a racist? Sure, whatever you say...

 

Is that solid enough?

 

Much better, but it still doesn't mean that the crisis won't improve if the economy improves.

[Alaska Darin]

Well, I would suggest you're the one that mad the statement that the economy could grow at 10% for 20 years without them being able to pay their obligations. You're the one that needs to back it up.

Actually, he's not. I did. You see, I read A LOT of information on these subjects. I understand how economics work, and I understand how these things are funded. I also understand we're at the very tip of the iceberg concerning baby boomer retirements and that if we can't pay the promised benefits now, with TRILLIONS of dollars of current debt, there's absolutely no way we can pay future obligations, BECAUSE THEY ARE EVEN HIGHER.

 

That's what happens when you promise public employees are promised things like "75% of their salary, based on their 3 or 4 highest earning years, with guaranteed cost of living increases". It's even better in states like Illinois, where pensions are Constitutionally guaranteed. That's probably why their pension obligations have grown 700% in the last decade. That's probably sustainable if the economy picks up 10% annually over the next 20 years, right, Tardo? NOPE.

 

You sound EXACTLY like the politicians who are trying to deal with this. Nothing more than kicking the can down the road. We're in this mess BECAUSE of people like you and "pie in the sky projections" like annual 8% growth.

Much better, but it still doesn't mean that the crisis won't improve if the economy improves.

You're an idiot.