So, it’s more of the same, Washington borrows money (it doesn’t have any money and wont cut other spending to fund the programs) that we have to repay and hands it out to the “favored”.
Just a mere $26 billion this time, for “teachers, cops and firemen”, should we add “in states that have totally mismanaged their fiscal affairs at the expense of states and taxpayers who have not”.
As usual, if you mismanage and screw up, Washington will heap on you funds taken from those who have not. We continue to reward poor performance and tax success, a sure path to a less robust economy. Questions like “Why is Washington subsidizing teacher salaries and retirement benefits in towns that no member of Congress has ever even visited?” are not asked.
The money flows, and unions provide millions of dollars in campaign support. What are the odds that GM can make its $17 billion contribution to the union’s retirement fund that is coming due? Odds are high that taxpayers will be tapped once again.
HPtossed its very successful CEO for an “ethics” violation. Would the Treasury secretary or members of Congress survive in that environment? Would “ethical” federal, state and local politicians allow us to get where we have ended up?
USA Today and the Wall Street Journal reported on the systematic looting of taxpayers by public employees and their pensions. How can a town in California pay a city manager of a town with 40,000 residents compensation of $1.5 million a year or a townof 91 people pay over $500,000 a year in pension benefits plus health care to its retired city manager?