Today, marks the start of our Federal Governments new Fiscal Year! ….Now that the Streamers and Confetti and empty bottles of champagne have been cleaned up….let’s pop a few ($trillion) aspirin from last night’s (year’s) hangover and see where we stand (more like kneeling) today. Oh God my head hurts….pass the soda crackers please.
The federal government now spends $7 million a minute.
Within three years, the government will spend more than $1 billion a day just to pay the interest on our debt.
The debt is on pace to double in 10 years.
Our national debt is more than $13 trillion, which means every man, woman and child owes $42,000 to debt holders. Let’s just all cut a check and get this hangover to go away.
Wait, but that’s only our National Debt, which is our Government (Public) side of the equation. Let’s slop in the total Consumer’s debt, which is $11.7 Trillion or another $39,000 per man, woman and child.
So, actually let’s each cut a check for $81,000 and pretend we all blacked out last night and those bad decisions after 2am didn’t really happen.
Hold on, over 40% of Americans don’t even pay any income tax, so how can they be expected to pay there own way…come on fair is fair and obviously these people need help….so they shouldn’t be cutting that check.
Let’s re-distribute the wealth and have 60% of the American’s cover the Tab. So all American’s who pay tax cut a check for $135,000 and then we can all get outta bed today…party on Wayne…after all last night didn’t really happen right?
Wait a second, that isn’t fair either…Our, most respected leader, or should I call him the “Lord and Savior” of Change….remember he starting going to church again…says that this 60% is primarily the Middle-Class and they need tax breaks….not increases!
So, instead of the top 60% erasing our memory from last night, let’s have those real heavy-hitters bite the bullet….you know who you are, that 5% of all tax-payers…stand up, show yourself. Now since you are so lucky to be “rich” and definitely didn’t work any harder than the 40% paying zero tax….and your Head-Ache obviously isn’t as bad as the rest of “ours” from last night because you can afford that really expensive top-shelf alchohol. Can you?…wait scratch that…You are now ORDERED to pay $1.62 million each….no more “Dom” or “Cristal” for you!
Back to the Korbel and that bottom shelf….after all you need to feel like the rest of us again and spend the rest of the day on your knees praying to the “porcelain god”….
Friday, October 1, 2010
Wednesday, September 29, 2010
California Dreamin'...or is it hallucinating???
These little known, and non-publicized California factoids (I wonder why?) should help make your decision very easy on the upcoming elections...absolutely shocking financial decisions were made under Gray Davis, that our State is paying dearly for today and into perpetuity unless something drastic changes...Our Governator and his 20 inch biceps couldn't even muscle the union firepower....ya they are that powerful....imagine if you had a union friendly governor....
- 80 cents of every Dollar of California’s revenues is spent on State Employees costs, compensation and benefits.
- California Revenues have risen by 29% over the past 10 years for the State, while pension costs have risen 2,500%!
- California is on the hook for $550 billion of State employees retirement debt, which is un-funded and promised by past governments.
- This year the cost of servicing that debt is $6 billion. Next year it will rise by 15% and rise again the year after until this payment will be just shy of $30 billion in 2020.
- This year California had $80 billion in revenues….so $30 billion on Retirement costs is ludicrous to contemplate; this money has no direct impact on the states current or future needs, but is all in arrears.
- Since 2007, Gov’t employee costs have been steadily moving higher, while over 1 million private jobs have been cut.....Who pays for these public sector increases? Oh thats right, the private sector is on the hook for these huge public cost increases....private sector is the one who's getting skewered right now....fair?
I want to ask a question which hopefully sheds some light on how California’s Public sector is absolutely running amok and taking advantage of its union powers. According to the Department of Labor, 1 out of every 8 workers are in a union, which breaks down to 12.5% of all workers. Why does California spend 80 cents of every Dollar it earns on State Employee (Current and past) costs? Shouldn’t this number be closer to 12.5% instead of 80%? After all, 1 out of 8 are in a Union, but we are currently shelling out Cash as if 6.4 out of 8 people are in a Union…..
.....Texas, Washington, Nevada, Alaska, Florida, Wyoming and South Dakota and their Zero State Income Taxes sound pretty good right about now huh?
For some quick perspective…back in 1945, just after WWII, Unions accounted for 33% of all American Workers, or 1 out of 3 people….so Union members have been whittled way down, however, zero progress has been made on the financial power and strangle-hold they have on our State and local governments!
We, Californian's are not dreaming anymore......we are Hallucinating if we think this is Sustainable!
- 80 cents of every Dollar of California’s revenues is spent on State Employees costs, compensation and benefits.
- California Revenues have risen by 29% over the past 10 years for the State, while pension costs have risen 2,500%!
- California is on the hook for $550 billion of State employees retirement debt, which is un-funded and promised by past governments.
- This year the cost of servicing that debt is $6 billion. Next year it will rise by 15% and rise again the year after until this payment will be just shy of $30 billion in 2020.
- This year California had $80 billion in revenues….so $30 billion on Retirement costs is ludicrous to contemplate; this money has no direct impact on the states current or future needs, but is all in arrears.
- Since 2007, Gov’t employee costs have been steadily moving higher, while over 1 million private jobs have been cut.....Who pays for these public sector increases? Oh thats right, the private sector is on the hook for these huge public cost increases....private sector is the one who's getting skewered right now....fair?
I want to ask a question which hopefully sheds some light on how California’s Public sector is absolutely running amok and taking advantage of its union powers. According to the Department of Labor, 1 out of every 8 workers are in a union, which breaks down to 12.5% of all workers. Why does California spend 80 cents of every Dollar it earns on State Employee (Current and past) costs? Shouldn’t this number be closer to 12.5% instead of 80%? After all, 1 out of 8 are in a Union, but we are currently shelling out Cash as if 6.4 out of 8 people are in a Union…..
.....Texas, Washington, Nevada, Alaska, Florida, Wyoming and South Dakota and their Zero State Income Taxes sound pretty good right about now huh?
For some quick perspective…back in 1945, just after WWII, Unions accounted for 33% of all American Workers, or 1 out of 3 people….so Union members have been whittled way down, however, zero progress has been made on the financial power and strangle-hold they have on our State and local governments!
We, Californian's are not dreaming anymore......we are Hallucinating if we think this is Sustainable!
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