I doubt Obama will fix it this time

[5.9cummins]

http://www.cbsnews.com/video/watch/?id=7166293n

Dont know if you guys got a chance to look at this but its pretty interesting in terms of where some states stand fiscally (NY included).

[Mr VJP]

Interesting?  It's a disaster on the horizon and every state is in this situation.  The decades of overspending and fiscal mismanagement are coming to a head. 

We are staring at the makings of another Great Depression my friends, one that America may never recover from.  Washington will not be able to bail states out of this one, even if they wanted to, and the taxpayers don't want them to.  If D.C. did bail the states out, they would just continue to spend recklessly and never solve the problem.

When the states go bankrupt, they default on all of their loans, businesses they owe money to go belly up and the state bonds tank.  That will cause stocks in general to dive like a falling rock.

Sorry to bring this all to light here, but I'm becoming really surprised that Americans didn't know this was happening all along.  It seems the electorate is more oblivious than I first thought.

[5.9cummins]

Interesting might have been a bad choice :-[ . I couldn't agree with you more.

Why would elected officials be any different than the people that elected them. Americans don't put any value on saving money or staying out of debt.

I like this article.

I support a wife and three kids under five. I put down 37.5 percent on our house. I don't have a car payment. Went to a one car household, no cell phone, no cable - satellite - or TV for that matter. Yet i am still able to put some money away for retirement, pay off all our bills every month and tithe a full 10% before taxes to the church. I can still do all that on slightly more than what the average American makes according to that article.

America needs to get its head out of the sand and wake up.

[Renegade]

Interesting might have been a bad choice :-[ . I couldn't agree with you more.

Why would elected officials be any different than the people that elected them. Americans don't put any value on saving money or staying out of debt.

I like this article.

I support a wife and three kids under five. I put down 37.5 percent on our house. I don't have a car payment. Went to a one car household, no cell phone, no cable - satellite - or TV for that matter. Yet i am still able to put some money away for retirement, pay off all our bills every month and tithe a full 10% before taxes to the church. I can still do all that on slightly more than what the average American makes according to that article.

America needs to get its head out of the sand and wake up.

[/quote

AMEN TO THAT MY FRIEND

[Mr VJP]

That's a good article 5.9, but it stopped short or mentioning people will now also have to worry about having an income. 

Even if people realize they need to live within their means now and start saving money, if the states tank, taking the stock market with them, and causing more foreclosures and layoffs, a lot of people will have no means to live within.

I have a real fear for the future of America.  We can survive I think, but not without going back to the lifestyles of the last great depression and pulling together as a country.  I believe we will see many families living together and pooling incomes in order to have a roof over their head and food on the table.

I also believe those of us who hunt and fish and know how to live off the land, while at the same time having some knowledge of modern technology, are going to be at a distinct advantage.

[nyantler]

Does anyone realize how much of our tax dollars go to just maintaining the actually governments themselves.. high salaries, expense accounts, living expenses, pensions, government vehicles, and health insurance. All of which are far better than what the taxpayers that pay for them have.

[SteveB]

I heard that something like 40% (and rising) of the people in this country get their living from some level of government - either threw employment, benefits or aid. Care to guess their priorities when voting? When it hits 50%, it will get far worse.

[Larry]

hey i know someone making 30hr in a toll both when a tool maker only makes about 20 to 25hr if he is luckey i should of worked for the state and not paid to go to collage