60 Minutes tonight's show (State Budgets: The Day of Reckoning)

[securpro]

I got an email fron a good friend of mine tonight about tonights episode of 60 Minutes, Apparently I'm not the only one having financial difficulties
Here is the email he sent me......

Joe,

I was holding our new granddaughter and 60 minutes was on TV (which I never watch), so I watched part of it.  Tonight’s segment was on the states budgets and how close it is to collapse. I was shocked that this story would air on such a liberal show..   The prediction by Meridith Whitney (financial expert) is that the states will collapse by the end of 2011.

Here’s the story and a video of the segment:   http://www.cbsnews.com/stories/2010/12/19/60minutes/main7166220.shtml?tag=contentMain;cbsC arousel

Worth a few to read and watch!!


Hope to get together before Christmas but if not I hope you have a very Merry Christmas!!,


Tim

[Hawks Feather]

If I were part of the conspiracy theory group I would probably say that the state's collapse is part of obama's plan.  If the states fold then the feds take over and then he can do what he wants at both the state and federal level, rather than just the federal.  Like New Jersey's governor, Ohio's incoming governor has chosen to NOT participate in obama's rail program.  The request was made to use that money for other programs that the new governor felt would better serve the residents of Ohio.  obama's man reply was - No, we will just send the money to California, Florida, and another state I can't remember and increase their grant.  This leads me to ask the question - If the states were given the money to do the job, why would they need additional money?  Oh, wait, could it be a PAY OFF for state support?  Outgoing Ohio governor was a D and supported obama, incoming governor is an R and doesn't support obama.  Kind of makes you go hum. . . . .  The only glimmer of hope is that the House is no longer going to be a rubber stamp for the "Tax and Spend" or "Spend and Spend" 2010 House.

Jerry

[FinsnFur]

Nope, your not in that boat alone Joe. Some might be prepared to deal with it better then others but the fact is, everyone in the country is being impacted by this recession. Some parts of the country are being effected differently then others etc.

It's been grinding me into the ground since 2008 just like Whitney mentioned.

And yep, speaking of Highspeed rail, our governor here in Wisconsin was not for it either. Knowing the money was desperately needed for other things.
So Obama has yanked the money away and sent it elsewhere.
1.2 Billion dollars

Ya know what struck me about you folks Jerry, and maybe you already know it. Ohio Gov elect John Kasich said he'd like Ohio's money returned to the federal treasury to reduce the deficit if it couldn't be used to meet other Ohio needs. And Obama hypothetically flipped him off.

[KySongDog]

2011 will be a test of whether we (the country) makes it or not.   

I posted a variation of this quote back in May which has been attributed to Alexander Fraser Tytler.  A Scotsman who lived in the late 1700's.

    "A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.  A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury.  From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.  The average age of the world's greatest civilizations from the beginning of history has been about 200 years.  During those 200 years, these nations always progressed through the following sequence:

        * From bondage to spiritual faith;
        * From spiritual faith to great courage;
        * From courage to liberty;
        * From liberty to abundance;
        * From abundance to complacency;
        * From complacency to apathy;
        * From apathy to dependence;
        * From dependence back into bondage."

[securpro]

I am not a scholar but I am assuming we are somewhere in the complacency to apathy stage 

[Bopeye]

Scary stuff guys. Anyone that isn't a little worried does not have their head screwed on right. 

[pitw]

Scary stuff guys. Anyone that isn't a little worried does not have their head screwed on right. 

[L] I'm skeered and I ain't an American.