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  • Why Are So Many U.S. States Facing Budget Deficits? [View article]
    The county I live in, in Florida, doubled - no I am not making this up - doubled its spending in a two year period. That was during the home price inflation extravaganza. Property taxes soared and they spent every penny of it PLUS they floated a bunch of bond issues, adding more debt.

    In a county where the average worker still makes under $30k, ALL the administrators in the Fire Dept make six figures. More than half of all six figure earners in my county are on the government payrolls.

    Ever wonder where the fiscally irresponsible congress critters come from ? They get their start as fiscally irresponsible Republican and Democratic local and state "representatives".

    So, yes, falling tax receipts are a problem, but the CAUSE behind the crisis is elected government officials at all levels with no concept of fiscal responsibility.
    Jun 26 10:58 am |Rating: +13 0
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