Many say that the situation in Greece is a
harbinger of what is coming to the United States.
They are right.
But first it will come to states like New York,
California and Michigan, which are stretched
way beyond their means and deeply in debt.
Until now, the problems in these states
have been papered over by federal aid.
Essentially, Washington has relieved these
states (and the local governments they fund)
of their constitutional obligations to balance
their budgets by giving them welfare
checks in the nick of time.
Barack Obama now seeks to pass
$50 billion in additional welfare to the states.
But,
since these federal funds are not necessarily
recurring -- and the jobs and obligations they
fund are -- they simply enlarge each year's
deficit hole and enable the states to go more
deeply into the red.
As these deficits mount --
particularly if a newly elected Republican House
and/or Senate refuse to fund them -- bondholders
will get more and more nervous.
Eventually, they will realize that the less
solvent states are bankrupt and will refuse
to buy their debt.
Eyes in Sacramento,
Lansing and Albany will turn helplessly to
Washington to guarantee their debt, just
as Athens turns to Berlin
http://www.humanevents.com/article.php?id=37647
In a speech
on Thursday at American University
in Washington, D.C., President Obama
announced plans to enroll 15 million new
Democrat voters by the year 2016 by way
of an amnesty for illegal aliens.
Then he denounced Republicans
for blocking a "bipartisan approach"
to that legislation.
Didn't happen, you say? Yes, it did.
The proposed transaction
was given a code name and reported
by the mainstream news media as
"comprehensive immigration reform."
Obama's problem is that over 75 percent of
Americans want to see genuine border security .
Yet Obama
and the Democratic majorities in the House and
Senate are again trying the old bait-and-switch
trick, which worked so well in 1986.
They want Americans to accept a new amnesty
as part of a "comprehensive plan" that includes
a promise of border security somewhere
down the road.
Americans are not buying it.
Citizens want to see the border secured now,
not as part of some dishonest deal for amnesty.
And that,
Mr. President, is a true bipartisan consensus.
It is amazing
how many otherwise intelligent people have
adopted the lexicon of political correctness in
which the "bipartisanship" label can only be
attached to Democratic legislation, never to
an idea that opposes an agenda item
coming from the political left.
In the amnesty debate in 2007,
there were more Democratic senators opposing
the amnesty bill than Republicans supporting it,
but the news media would never talk about the
bipartisan opposition to the amnesty bill.
Obama, Reid and Pelosi are stuck
in the contradictions of their own rhetoric
http://www.wnd.com/index.php/index.php?pageId=174089
Exposing
The Enemies
Of Free Enterprise
http://thefreeenterpriser.blogspot.com/
