[ExI] the octuplets mother and what it bodes for the future

[BillK]

On Mon, Feb 16, 2009 at 1:47 AM, painlord2k wrote:
<snip>
> I'm against enforced birth controls.
> Scrap the welfare state, so people like her will think twice before doing
> this stupid things.
> I don't understand! Why must I give up my freedoms because a stupid woman do
> stupid things? Why I am supposed to pay a part of her children schools,
> foods, healthcare with my taxes?
>
> California is going under with gargantuan deficit and debts. And they want
> people  pay for the follies of others? I understand because so many people
> on the net say that California is beautiful but it is no more for sane
> working people.
>


Mirco,
Please try and bring your economic theories back in touch with the real world.

Welfare payments are a small part of the problem.
California and other states are going bankrupt because the collapse of
the stock market has left their pension schemes grossly underfunded.
The collapse in real estate has made property tax income disappear and
unemployment has greatly reduced income tax revenue and the recession
has reduced sales tax revenue.

So states are only getting a fraction of the tax revenue that they got
in the boom years.

Their only alternatives, (like the government) are either to borrow
even more money than they borrowed during the artificial boom years or
make unbelievable cuts in spending and pensions.

The phrase 'between a rock and a hard place' comes to mind.

BillK