Name:   MAJ USA RET - Subject:   Right! Date:   11/28/2010 6:51:16 PM

Spot on, Yank!  Illinois is being bankrupted, in the main, by their generous, union coerced and co-opted pension funds.  By the way Illinois CANNOT recover.  Their debt has become too large to reverse without outside help.  Illinois will stumble first. We taxpayers will be told we have NO CHOICE but to rescue Illinois.

California is sucked under by its liberal handouts, especially Medicaid for illegals… and education.  To forestall their demise they raised… and raised… taxes.  Now the golden geese have taken flight - industry is departing California for venues where bleeding and leeches aren’t the cure for the malaise of fiscal malpractice. California is reputed to be the 15^th largest economy in the world (old information).  Do we understand the enormity of bailing out California?

Michigan is tapped out.  New Jersey is aware and struggling.  But, in every one of these four states, the wailing over austerity measures hobbles state legislatures and executives in their ability to stop their decline short of the fiscal precipice.  Blame is deflected.  The Federal government is assigned responsibility for mitigating the fiscal problem without paining the perpetrators.

Imagine scolding an overweight dog while gorging him on as much food as he wants.