I Do Not Believe This Is Sensationalism - States Are Broke

[Issachar]

Twelve months? A few years? These governors and economists, associated with state debt, are only scratching the surface here. They do repeatedly point out something that Americans apparently need to hear over and over and over ... That is, you can't pay for something with nothing.

For a long time now, I've believed that many Americans don't want to apply logic to the situation of debt. All that matters is that they get "their" share; whatever the cost. Those apparently, don't know economics 101. Too bad most reject the Word of God because all the why's and wherefore's and answers are contained therein.



Like I said, this report doesn't start to scratch the surface. If the general populace of America had a clue as to how the U.S. as a whole and it's member states, have been getting by, they would wake up very, very fast. But the true condition of the nation is hidden behind the bread and circuses.

I just hope that folks who share in pension funds have listened over the past years to what is going on and have started something on the side on their own.

Issachar .. watching ... waiting ... wondering ....

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Bordering Illinois (St. Louis) we keep up on Illinois news, plus, we have a brother-in-law who just retired from State government there. He used to tell his wife not to worry about his pension because it is covered by law but he has started to worry. Apparently a town in Alabama has just defaulted on its pension checks! So, how applicable are laws to governmental bureaucrats?

Here in Missouri, although we have a Democratic Governor, he is very conservative and our legislature is ruled by Republicans. Consequently, we are one of only 5 states with a triple A bond rating. And even our primary Democratic US Senator, Clair Mccaskill, is conservative and trying to do away with all earmarks! So, some states are trying to be fiscally responsible, but we are in the minority and all of the dead beat states will probably bring us all down?

The Fed's will eventually try to bail some of the big states out under the guise of "too big to fail" and I think they know it! Of course, that will just cause inflation and more devaluing of the dollar. But the Chinese will bail us out if we adopt communism (already getting there) and the Muslims will bail us out if we accept sharia law (girls start making your burkas)! Well at least under communism I won't own a house that I have to keep painted and the grass mowed and women won't have to worry about their weight under sharia law because everyone looks the same under a tent!

Lord come quickly and make things right!!!!!!!!!!!

[Issachar]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

... not to worry about his pension because it is covered by law but he has started to worry. Apparently a town in Alabama has just defaulted on its pension checks! So, how applicable are laws to governmental bureaucrats?

I guess it doesn't matter what the law says if they don't have the money to pay out, eh? Would you know the name of that town? I'd like to look up some info.

A lot of folks knew, when Mr. Nixon took the U.S. off of the gold standard (all the way) in August of 1971, that the replacement fiat system would be a blank check for the country. But it seems too many thought that "something from nothing" would be an unending reality? Silly, I know .. but, apparently that is what they thought. The piper must always be paid. It's built into the foundation of the creation.

Only God can make something from nothing; and we ain't Him. But the old "ye shall be as gods ..." never ceases, by the sin nature, to be attempted. Doesn't work though. Let God be true and every man a liar .. Romans 3:4.

Issachar

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Last summer, I heard a state-employed actuary (or accountant) say that the State of Montana is $4.3 billion underfunded in its state employee pension fund.

My neighbor who is retired from the state - both he and spouse - is a non-believer.

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

We just re-elected governor moonbeam....... so far left that half of his advisors are illegal aliens from another planet (he is a ufo extreemist) and the other half illegal aliens from everywhere else.....

there is no way anything remotely approaching sanity will come from california before the next ice age.......

governor moonbeam has already said he has hundreds of lawyers poised to terrorize businesses in calif into bankruptcy to support his marxist agenda...

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

I guess it doesn't matter what the law says if they don't have the money to pay out, eh? Would you know the name of that town? I'd like to look up some info.

Issachar

Prichard, Alabama. Here is an article about it:

https://foreclosureblues.wordpress.c...is-the-future/

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

As the author says in the article:

"If the court declares the city must pay up in full, perhaps the city should pursue dissolution. What I expect to happen is for the bankruptcy court and the city to agree to pay pensioners some minimum benefit, far less than what was promised."

[Issachar]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Thanks for the link John. Interesting. At that link was another link showing the top 10 cities with unfunded pensions that supposedly run out in 7 or 8 years.

Issachar

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Just checked to see if any were near me.
Yeah, this is sort of a secret to those who don't pay attention, but well known to those of us who watch it almost weekly (like many on this board).
It's almost unfathomable to think that a government agency could go bankrupt, when they have money from the taxpayers. I mean, "what do you do with our taxes?" I'm in gov't, and I see waste almost daily. Just in our city gov't, there have been indictments of the "federal" kind, because people were embezzling, or giving money to relatives, etc. This is money that should have gone to services that WE pay for. Honesty is getting harder to find in gov't, local or otherwise, but not greed.

[Issachar]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

A close friend of mine is retired from a nearby city school system. He did maintenance there for 35 years. The waste he's mentioned, both "legitimate" as well as under-the-table, is phenomenal. And that same school system now is running an annual $30,000,000 deficit! It cannot last; not local, not state and not federal. Not "private" as in banks and certain industrial corps. It is beyond me how anyone can't "get it" when they know that they personally, cannot simply pile up debt and owed interest, for very long. I guess they somehow "think" ?? it is different if it is government?

Issachar, believes God when He says, "In the sweat of thy face shalt thou eat bread, ..." (Genesis 3:21)

[Guest]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

I truely hope the feds won't bail out any states. They don't have the money and if they did the only way is to raise taxes somewhere. I am more that ready for the Lord to come to take us home. And will watch with interest for the next 12 months as the woman on 60 minutes said. That is a time table I have heard from many other sources.

[Issachar]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Jackie, while I very much agree with you in principle about the nation (federal) not bailing out states, it's still a losing scenerio. Hundreds of thousands of people would all of a sudden have no means of eating and putting a roof over their heads. So they would go on welfare/food stamps/Medicaid/etc. and the nation is still "bailing" them.

I've been believing for a long time that the situation is not resolvable. The nation as a whole, not just "government(s)", not just banks, not just large corporations ... the "whole" of the nation; "we the people", (too few exceptions) have lived on borrowed "money." The time to have done something about it was when Mr. Nixon took the economy off of the gold standard. That gold standard is what set a "credit limit" on the government/nation. With no credit limit and a nation run largely by people in a fallen state (few there be on the road that leads to life) whose sin nature is intrinsically selfish, debt was sure to grow and grow it has ... exponentially. That same root cause for indebtedness still is in play and so it continues to grow. It's the same with all "empires" throughout history.

Here is what is really cool though ... well, one of MANY things that are really cool, about being born into the Kingdom of God. While the "world" may be without hope, or will be (relatively) shortly, we are not without hope because our hope is in Christ and He is in no way affected by ANYTHING the "world" has done, is doing or will do. He is the Rock. All else is shifting sand. As a hymn written in 1757 by 22 year old Robert Robinson says, in Him is a place where streams of mercy never cease. A somewhat more modern rendition of the hymn:



It is a true thing that in the "world" there is no hope. People cannot live, literally, without hope. So the "world" is filled with plans, ideas, schemes, positive thinking, programs ... in order to have some semblence of hope. As we all know, the "world's" issues are not economic, they're not political .. they're not even "religious"; they're spiritual. I am numbered among those that say, "Come quickly Lord Jesus", but Lord let me too be numbered among those that sense an urgency to get the good news of the gospel out to the lost before it is too late for them; whatever the cost. I believe that the harder times get, and they are/will, the more the lost are going to be open to grasping at anything that might offer hope. Let us be there. Amen.

Issachar .. usually doesn't know what is going to end up coming out of the end of his fingers when he types.

[Issachar]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

So they would go on welfare/food stamps/Medicaid/etc. and the nation is still "bailing" them.

It's similar to what they are doing now with unemployment benefits. First they were stretched to an unreal 99 weeks! NOW they've just extended them another 56ish weeks. This serves to keep them off of the "official" welfare roles which somehow "looks" better to the economy? It sounds more temporary I guess.

One thing we know .. if people, especially large numbers of people, are cut off from basic needs and see no hope of surviving .. especially if they have little ones dependent upon them, something we don't want to see in this country will happpen. On the other hand, if the nation simply continues on the track it is on .. and that does seem to be the going thing .. then we'll all be there anyway.

There are websites that watch government spending. Sometimes the radio talk show hosts will mention some of these spending issues by the government. Unreal. Many billions go for truly stupid things. One example I heard last week on the radio .. I don't remember who .. was something like ten million dollars towards a neon sign display at some museum in Las Vegas? Like the country is supposed to take indebtedness seriously with stuff like that .. and there's a LOT .. going on? Right.

Issachar

[SAT]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

Jackie, while I very much agree with you in principle about the nation (federal) not bailing out states, it's still a losing scenerio. Hundreds of thousands of people would all of a sudden have no means of eating and putting a roof over their heads. So they would go on welfare/food stamps/Medicaid/etc. and the nation is still "bailing" them.

I've been believing for a long time that the situation is not resolvable. The nation as a whole, not just "government(s)", not just banks, not just large corporations ... the "whole" of the nation; "we the people", (too few exceptions) have lived on borrowed "money." The time to have done something about it was when Mr. Nixon took the economy off of the gold standard. That gold standard is what set a "credit limit" on the government/nation. With no credit limit and a nation run largely by people in a fallen state (few there be on the road that leads to life) whose sin nature is intrinsically selfish, debt was sure to grow and grow it has ... exponentially. That same root cause for indebtedness still is in play and so it continues to grow. It's the same with all "empires" throughout history.

Here is what is really cool though ... well, one of MANY things that are really cool, about being born into the Kingdom of God. While the "world" may be without hope, or will be (relatively) shortly, we are not without hope because our hope is in Christ and He is in no way affected by ANYTHING the "world" has done, is doing or will do. He is the Rock. All else is shifting sand. As a hymn written in 1757 by 22 year old Robert Robinson says, in Him is a place where streams of mercy never cease. A somewhat more modern rendition of the hymn:

It is a true thing that in the "world" there is no hope. People cannot live, literally, without hope. So the "world" is filled with plans, ideas, schemes, positive thinking, programs ... in order to have some semblence of hope. As we all know, the "world's" issues are not economic, they're not political .. they're not even "religious"; they're spiritual. I am numbered among those that say, "Come quickly Lord Jesus", but Lord let me too be numbered among those that sense an urgency to get the good news of the gospel out to the lost before it is too late for them; whatever the cost. I believe that the harder times get, and they are/will, the more the lost are going to be open to grasping at anything that might offer hope. Let us be there. Amen.

Issachar .. usually doesn't know what is going to end up coming out of the end of his fingers when he types.

mmm mmm mmm and it is goooood stuff.

[SAT]

Re: I Do Not Believe This Is Sensationalism - States Are Broke

I saw this AP article this morning stating American companies are doing well. But the jobs are still going to other places.
http://news.yahoo.com/s/ap/us_overse...JlYXJldGhlag--

I wonder more and more everyday why they are still keeping phrases like "American" "Japanese" "Canadian" etc companies.