We may as well settle in... These scenes from Wisconsin are going to be repeated in 29 other states within the next two years.
The Biloxi Sun-Herald ran an interesting AP article this morning about 30 years worth of warning that states were not banking their money to pay unemployment insurance. The major culprit for this monetary shortfall was a tax cut for businesses that paid the unemployment fund. So the recession hits, and thirty states borrow $41.5 billion from the feds to cover their unemployment insurance costs.
Short term issues? Have to pay the interest of the loans. Long term issues? Have to pay the principle, AND replenish the general fund for the unemployment insurance.
Three guesses where THAT money comes from?
Walker is looking big picture, long term. And he RAN on these issues, fiscal responsibility, getting state spending under control, etc. I haven't checked, but was his election close? Contested? Hanging chad kind of close? Or did the vast number of these "rank and file" decide their vote didn't matter and the democracy they're screaming for required too much effort?
Sunday, February 20, 2011
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