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Wednesday, December 22, 2010

How Bad Is It?

How dire is the economic situation in states and municipalities right now? Imagine Damocles' sword sweeping back and forth an eighth of an inch above our throats. But don't take my word for it, instead watch this 60 Minutes segment:
I hope this didn't ruin your Christmas holiday, but really, the next time you hear conservatives called hard-hearted for wanting to restrain spending and cut budgets, ask yourself whether it was restrained spending that brought us to this point or whether it was governmental profligacy. What good does it do to give huge entitlements to the poor and elderly and staggering pensions to public employees if all it does is bankrupt the state? And which states are in the worst shape? Is it just a coincidence that it's states like New York, California, Illinois, and New Jersey which until recently, or even still, are controlled by Democrats?

On the national level the Democrats' appetite for spending is nowhere close to being satisfied. Had the Republicans not been able to stop the bloated Omnibus spending bill that Harry Reid tried to ram through the Senate last week our national debt would be even more crushing than it already is. They're looting our children's patrimony, and, like Governor Christie suggests in the video, the bills are soon going to come crashing down upon all of us.

To quote the good Reverend Wright, the chickens are coming home to roost.

Thanks to Hot Air for the video.