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States and localities furloughed or laid off nearly a million workers last month, new data indicate, and reports of more furloughs this month are widespread.
The “wait and see” approach that Senator John Thune and some other Republicans recommend for providing more state and local fiscal relief is highly unwise.
I know very well how things are going, and it is a direct result of both the shutdowns, and the government handout packages. Yet people like yourself want to keep on giving out handouts...because "feelings." :roll:
If you give a man a fish, he'll eat for a day. If you keep giving that man a fish, he'll keep right on taking and eating as long as you are foolish enough to feed his needs.
Stop the feeding, and he either learns to fish, or starves...it's entirely up to him.
That was the same refrain back in 2016.
IMO however, many people are looking at what has been happening with Progressive-Democrat race-baiting and other grievance politics shenanigans. They are also looking at all this rioting, which IMHO is a direct result of that kind of divisive activity.
They are looking and they are not happy...but won't blame Trump.
So instead or predicting the future, I'll just shrug and see what happens in time. :coffeepap:
You "said that" by both citing an article that indicates the Senate is blocking needed efforts to pick up the State tabs (apparently the Democrat House is pushing for), AND indicating your agreement "if the Senate doesn't get off their asses and help."
The question was valid. Why should State debt be added to the Federal debt?
Why, exactly, is transferring (converting?) state/local debt to federal debt a good idea?
Because state & local debt is real debt, while the Feds can simply make their own money.
I've been saying this for years. I don't think they even bothered to issue bonds this time. The trillions the govt. spent this spring weren't borrowed, in any sense of the word.
So why not increase the pay and benefits for all state/local government employees and double the number of them?
The Center on Budget and Policy Priorities is a progressive American think tank that promotes liberal and progressive agendas.
Their agenda in this instance is draining federal funds to make up for their poor fiscal governance.
Just weeks ago, I heard California was thinking of seceding from the nation; now they want a bailout.
How about a big bucket of Nope!
If the feds would pay for it, they could.
But it would be fairer if the feds just gave states/cities $1000/head. Just like they gave people money, they could give states money.
That $1K/head ($330B?) is likely far less than what the states are going to be demanding.
They could give the states whatever they needed. It's money better spent than the giveaway to Big Business.
OK, then why have taxation at all?
OK, then why have taxation at all?
Think your missing the point. The goal should always be to have a balanced budget during good times and deficit spend during the bad. God deficits spend during good times and end up creating huge recessions.
Why have balanced budgets at all? Nobody can ever answer this with sound logic and reasoning, let alone data.
Deficit spending adds to GDP. That's a positive. Show me the negatives, if you can, that outweigh the positives.
States, cities, and counties are all facing HUGE deficits
Pink slips will be coming very soon
Especially if the senate doesnt get off its ass and help....
Police, fire, teachers, admin....they will ALL be cut and it seems likely in most locales
Wont just be the private sector suffering....everyone else is about to join the party
Fiscal Relief Needed Now to Stop Massive State Job Loss From Becoming Permanent | Center on Budget and Policy Priorities
I'd be okay with small deficits instead of balanced budgets.
The Center on Budget and Policy Priorities is a progressive American think tank that promotes liberal and progressive agendas.
Their agenda in this instance is draining federal funds to make up for their poor fiscal governance.
Just weeks ago, I heard California was thinking of seceding from the nation; now they want a bailout.
How about a big bucket of Nope!
So now the federal government should backstop bad management by state governments? Most of the states asking for bailouts were already in bad shape, with bloated pensions and spending. Let them raise state taxes.....again.
What is the federal government there for anyway, if not to come to the aid of its citizens when needed?
If somebody is choking, do you criticize them for eating whatever they are choking on, then expect them to Heimlich themselves out of trouble?
The federal debt will need to be paid off by corporate taxes, there is no choice. If the Republicans are even remotely interested in tackling the debt they will have to bite the hand that feeds them. Will they, doubtful.
I expect people to eat small bites, of a size they can handle, instead of huge chunks because they are gluttons. States should act the same way. Why should I pay for a gluttonous, bloated Illinois pension scheme? Or California? I also oppose the government bailing out the big banks and corporations for the same reasons.
And there's only two ways to raise that money you want given away. Either raise taxes or borrow it. In fact, government does BOTH. I pay enough already in taxes. ALL totaled, local, state and federal, almost half my income.
And if taxes were figured all along the supply chain, the tax burden is much worse. The mining company extracts the ore (they pay taxes and maybe a royalty if it's on gov't land) then railroad ships the ore and pays taxes. Then the smelter melts it down and they pay taxes. Then the trucking company moves it to the stamping plant, they pay taxes. Then to the manufacturing plant, where it's made into something useful (that's called "value added"). That manufacturer pays taxes. Then it's shipped to a distribution center; they pay taxes. Then to a retail store, and they pay taxes. And then when you buy the item you pay maybe 10% sales tax, which is about the only tax NOT hidden along the way. And if it's a vehicle, or a boat motor, or a motorcycle, or a boat, or a 5X10 utility trailer, you will also pay property tax on top of all those other HIDDEN taxes.
When it's all said and done, most of your money ends up as taxes. The only reason it looks like we actually own anything or make progress at all is that the huge gains in productivity adds so much value to almost everything, while also making it cheaper to make.
Govt. "debt" does not need to be paid off. Govt. debt is just financial assets in the hands of the private sector, bonds and dollars. Reducing govt. liabilities just pulls dollars out of the active economy, and that would be a disaster.
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