Thursday, January 13, 2011

Debt and politics - - -

What do the states that tend to  have the greatest debt have in common ?















http://chuckdevore.com/wp-content/uploads/2010/08/Maps3.jpg

Compared to the states that voted for Obama we can see that these states have Liberal tendancies in spending as well as voting.

What happens when these states cannot pay their obligations ?

When the Democrats controlled Congress the answer was obvious, bailouts !

But now with Republicans controlling the purse strings in the House of Representatives these states are going to have to face huge cuts in service or draconian high taxes.

Illinois has already raised taxes and other states will certainly follow.

Any Conservative could have predicted this and an old saw comes to mind.

There is no such thing as a free lunch !

TINSTAFL  That would make a great license plate !

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