https://townhall.com/tipsheet/...f-no-return-n2506053

Having grown up in New Jersey, you understand that Democrats are a tax and spend party and even liberals in the state understand it. The Garden State is a case study in mass exodus; it’s just too expensive to live there anymore. Are there signs that the Democrats get it? Maybe—the heavily Democratic legislature in Trenton had to tell Governor Phil Murphy that his tax increase agenda was more or less not going to happen. Taxes still went up, but it was not the insane proposal the governor’s office had pushed. Still, I doubt Demorats in these states will find rational solution to their fiscal woes. After decades of irresponsibility, these states are approaching a day of reckoning. It's the usual blue state madness crew: New Jersey, New York, Illinois, and California. For some, pension payments are a struggle (via Fox Business):

Connecticut may be the richest state in the country, on a per capita basis, but it's racked up a sizable debt worth more than $53 billion – and it could be taxpayers who are forced to bail out the Constitution State, according to the former governor of Indiana.

“Someone’s going to the barbershop,” Mitch Daniels, a Republican, said during an interview with FOX Business’ Stuart Varney on Thursday. “The first will be the taxpayers, already beleaguered in some of these states.”

And Connecticut isn’t the only state struggling with a debt crisis: California, Illinois, New Jersey and New York are unable to make pension payments to retired government workers.

In Illinois, for instance, vendors wait months to be paid by a government that’s $30 billion in debt, and one whose bonds are just one notch above junk bond status, according to Daniels. New York’s more than $356 billion in debt; New Jersey more than $104 billion; and California more than $428 billion.

My suggestion: if you live in these states, run!

quote:

My suggestion: if you live in these states, run!

Maybe want to qualify that with "and you were not part of the group that caused the problem, run!, otherwise, stay there and live with it...

Arkansas has no debts and state pensions went up 3% on July 1!

quote:

And Connecticut isn’t the only state struggling with a debt crisis: California, Illinois, New Jersey and New York are unable to make pension payments to retired government workers.

In Illinois, for instance, vendors wait months to be paid by a government that’s $30 billion in debt, and one whose bonds are just one notch above junk bond status, according to Daniels. New York’s more than $356 billion in debt; New Jersey more than $104 billion; and California more than $428 billion.

This is misleading. The people providing current services, under contract to the State of Illinois, aren't getting paid. Pension payments to retired government workers.... are still being paid out, 100%

What they are NOT doing is funding the pension fund to make FUTURE payments to retired government workers...

How long can it continue? Anybody's guess... but not forever.

New Jersey can spend money at the State level, that is incomprehensible to those of us in fiscally responsible States. I have first hand knowledge.

Business trips for dozens of workers for matters easily handled by a conference call. Extensive out of State trips for trivial matters. All these account for millions of wasted dollars and lost productivity.

It's a way of life that has been going on for 2-3 generations now.....NOT going to ever STOP.

quote:

Originally posted by wcb6092:
And Connecticut isn’t the only state struggling with a debt crisis: California, Illinois, New Jersey and New York are unable to make pension payments to retired government workers.

Hmmmm....Maybe a pension system that has retired firemen getting $200,000+ per year wasn't such a great idea.

And every single one is a long term liberal controlled hell hole - not a coincidence when I had a window of opportunity I beat feet out of New York and things worked out very well. Sadly not everyone who is a freedom loving conservative can make the jump.

All that's necessary is hold out until we get a democratic administration in DC. Then we will get
another stimulus deal

quote:

Originally posted by MNSIG:

quote:

Originally posted by wcb6092:
And Connecticut isn’t the only state struggling with a debt crisis: California, Illinois, New Jersey and New York are unable to make pension payments to retired government workers.

Hmmmm....Maybe a pension system that has retired firemen getting $200,000+ per year wasn't such a great idea.

It's a great idea if your that recipient.

quote:

It's a great idea if your that recipient.

So are most ponzi schemes. It's all good... until there's no one left to put in new money.

It's not just the states . . .

---

Philadelphia ranks 73rd out of 75 major U.S. cities in financial health. By Karisma Maheshwari 03/22/18

Truth in Accounting’s Financial State of the Cities report, which was released earlier this year, found that Philadelphia's taxpayers would need to contribute more than $20,000 per person to pay all of the city’s bills, which amount to $16.2 billion.

http://www.thedp.com/article/2...enn-financial-health

Funny how they've all been controlled by Dumbocrats for the last 50-70 years.

New Jersey, New York, Illinois, and California. I hope they go bankrupt. I hope they get to a point they can't pay their employees, their teachers, their government workers, their police. I hope they go flat broke. I hope they can't fund any of their social programs, their food stamps, whatever. I hope life gets miserable in those states.

I'm one of those people who hopefully one day get a NY state pension. But it's in exchange for 30+ years of working for half the prevailing wage. The pensions aren't the problem, it's the EVERYWHERE ELSE that the money is going, like relief aide to Puerto Rico for example.

I live in NJ too. Luckily I live in a red county. Places like Newark, Paterson and towns close to the city cause the state to be blue.
Its an awesome state but ruined by politicians even when the.state was ruled by GB.

quote:

Originally posted by Micropterus:
New Jersey, New York, Illinois, and California. I hope they go bankrupt. I hope they get to a point they can't pay their employees, their teachers, their government workers, their police. I hope they go flat broke. I hope they can't fund any of their social programs, their food stamps, whatever. I hope life gets miserable in those states.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
What he said! They will reap what they sowed...

I am an active LEO in NJ. I am in my 17th year. Wife and I are out the day I can retire...9 more years. I hope I make it.

When you are " out " you will take your pension and run to a lower tax state. And who can blame you?

quote:

Originally posted by 104RFAST:
All that's necessary is hold out until we get a democratic administration in DC. Then we will get
another stimulus deal

That's exactly what these bankrupt states are hoping for... a bailout at the expense of taxpayers from more frugal states.

Local counties, cities, towns, and quasis can declare bankruptcy. States and territories cannot. Otherwise, Illinois and Puerto Rico would have already gone chapter 9.

For states, the burden will be upon the taxpayer, employees, and retirees.