I am reading a lot about the growing European financial crisis that is spreading from Greece to Ireland to Spain. This should be a stark warning to each and every American that this country needs an immediate and drastic course correction. We need to support our representatives as the approach the third rail topics of entitlements because many will be afraid and want to continue to do business as usual, but that isn't going to save this country. We need to stand firm that things have to change and sacred cows slaughter or we will be going down in flames like Greece.
The will be cuts to defense, SS and Medicare, because that is where our money is being spent. We will also need to look at our bloated federal and state governments and all those wonderful employees and pension plans. Some states are better off than others, but no one can look to the feds for a bailout for poor fiscal policy. Each and every state needs to dig itself out of its own hole because the fed is tapped out. Does that mean cutting stuff and that includes service, damn right because at some point everything costs, so people are going to have to decide what is truly needed for their state to survive.
I am thinking that there is going to be pension reform and pension reform initiatives on every ballot come 2012. Why, because you can't keep pouring money in to retirement funds that are overly generous. The voters are being asked to tighten their belts in a tough economy, while retired state workers live like kings, it just doesn't add up. Let the state pensioners make their case to the people why they deserve all those wonderful perks, while people are jobless and hurting. If the press was doing its job they would have exposed the corruption in Bell, CA long before this year, but they refuse to do their job and expose all politicians regardless of party to the light of day.
If it is good enough for the military, then is should be good enough for everyone else (Congress included), since most other government workers are not risking their lives (fire and police excepted of course) they can do with a little less than fully pay and benefits for running an inefficient office for years on end. I might be more generous if I got better service from the government, but since the service is so poor the compensation can be commensurate with the quality of service. Like I said, let the tax payer's decided what they think a retired government employee is due.
I know that there are going to be a lot of pissed of retirees from some states, but I would think it would be give a little now or give it all later when the state goes belly up. It is just a thought, but everyone knows that as long as the career criminals are in charge the states will get bailed out and it will only hasten the fall of the federal government. There is no way any politician is going to let the wonderful people of CA suffer for their collective poor decisions or the great people of Illinois or New York. We need to tell the truth and the truth is we are out of other people's money and unless we get a huge influx of high paying jobs there will be zero revenue growth regardless of the tax rates because 50% or 100% of zero is still zero.
That is just my two cents, maybe three.