Friday, August 28, 2009

California (New Jersey, New York, Michigan) Here We Come

Just to prove Barack Obama is a great manager in the Democrat view of "manage" he told us back in March that the deficit over the next decade would be $7,000,000,000,000 (trillion!)over Republican charges that he was using bullish projections. Well now, August 26, 2009, the president happily announced a deficit of not 7 but $9,000,000,000,000 (still trillion). Take that California. America can go bankrupt first! And the new projections assume 1) The Liberal Congress will hold spending increases to the rate of inflation, vs. 47% in 2009 and so far 8% in 2010; 2) Liberal heartthrobs like Head Start, food stamps and child nutrition will be cut by 1/3; 3) Revenues into the federal government (taxes) will reach 20.2% by 2019 vs. a 40-year low this year of 14.9%, signalling gigantic tax increases for everyone that pays taxes; 4) Finally that the Democrats' Alternative Minumum Tax will burn 28 million middle class taxpayers, something the Democrats have promised that they will not let happen. And all this is before President Obama's monopoly stranglehold on healthcare will spend another $1,000,000,000,000!

Vote for the most corrupt state in the union. Democrat-controlled New Mexico anyone? The governor, prominent Democrat, Bill Richardson, is under federal investigation for another Democratic "pay for play" scam where state financings are awarded in exchange for campaign contributions. Well also the former 12- year Democrat Secretary of State, Rebecca Vigil-Giron was indicted for giving federal elections funds to a Democrat political consultand and two Democrat lobbyists. 50 counts. At least a couple million dollars. (See my post "Conflicts and Crooks, Obama and Democrats".) They join other convicted or indicted Democrats: two state treasurers, leader of the state senate, director of affordable housing and two utility regulators. But as I wrote in another post, Washington DC has decided to let Richardson go. True there are no Democrat crooks in the Obama Administration. He lets them all off.

Democrat-controlled New Jersey might be the most corrupt state in the Union. Or Democrat-controlled Illinois with its $9,200,000,000 projected budget deficit. Or Democrat-controlled Louisiana (but with a Republican governor). Or Democrat-controlled California ($53,500,000,000 deficit). But one thing is certain. They all are failing.

Why? Well for one all, adding Connecticut, Delaware, Minnesota and Oregon, not only have been controlled by Democrats, but are proposing to follow their president's lead in attempting to soak -- tax -- the rich, the top 1%, 2% or 5% depending. Well when they do, those rich people or at least many of them will simply pick up stakes and move to a lower-taxed state. Taking wealth, innovation and jobs ultimately with them. Study after study have documented this phenonomen. Over the period 2002 - 2005 when Connecticut, New Jersey, New York increased maximum txes to 5%, 8.97% and 7.7% respectively, in increases of tax filings by the wealthy dropped to the 46th, 49th and 50% among all states. In other words, max tax increased filers didn't. Hmmmm.

Add. Democratic-run, well pretty much union-boss-run, Philadelphia the country's 6th most populous city has stopped paying its bills. It has a projected city budget deficit of $1,400,000,000 over the next 5 years. Detroit. Its former mayor, black Democrat Kwame Kilpatrick, in jail for some sex/perjury scandal. Its present mayor, black Democrat former pro basketball player, dave Bing, warned that Detroit may have to declare bankruptcy, being in the hole $250,000,000, just before his re-election in November. Mr. Bing started an auto-parts company in Detroit in 1980 and is invested in Detroit. Bodes well for Detroit when he stated: "Business will bring the city back, not politics," CHEERS FOR MAYOR BING!

Other Democrat-controlled deficits: Michigan, $2,400,000,000; New York, $17,900,000,000; Ohio, $3,300,000,000; Oregon, $ $4,200,00,000; and Pennsylvania $4,800,00,000.

New Jersey with more government (measured by numbers of jurisdictions) than any other state, created 6,800 private sector jobs from 2000 - 2007. But government jobs are another story with 55,800 added, nearly 10 times the private sector. It is the worst state measured by small business survival rates, with high taxes, oppressive regulations, and deficit spending (although against the law.) For every government crony hired his or her salary must come from taxing someone else. And recently 43 arrests for mayoral and other corruption of Democrats with one token Republican arrest.

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