Thursday, August 9, 2012

California in Crisis Report on CNBC

Are we willing to give more taxes
so that unions can continue to
get more raises and benefits?
   If you watch any of the financial news on CNBC you could not avoid their main report this morning, August 9, 2012 because it was on the Financial Crisis in Califonia.

   CNBC took an inside look at the 8th largest economy, which is resting on the brink of bankruptcy, according to their source, due to rising unemployment, growing multi-billion dollar deficits and lowering home values.

   According to CNBC, who listed all of the cities who have already declared bankruptcy and those who are contemplating it, elected officials in each area continued to spend, give large wage increases to employees and had complete disregard for the implications of a possible recession of this magnitude.

   If we are to continue to pay all of these union employees the money the elected officials have already agreed to pay, including benefits and retirements, the rest of us are going to have to pay the piper in the form of much higher taxes.

  It's just like the USPS. We, the taxpayer will have to agree to pay much more for a stamp in order for their union employees to enjoy the high pay and forever benefits that the management agreed to pay them.

   Where do you stand? With agreeing to pay whatever it takes to sustain the unions, or to take a stand and refuse to vote for a tax hike in November?

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