02/19/2009 12:00 am
Sheconomics
Should federal bailout money be given to individual states when they are responsible for their own shortfalls?
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113 Reader Comments (so far…) Sign In or Register to comment
Since the GOP did not support this plan, Do not give any stimulus money to Red States. The Blue states are the wealthiest and also bear the greatest percentage cost of supporting the Fed Gov, give the money to them and let the GOP sink.
Rose: The Blue states are the wealthiest
Are you sure of that? CA would be considered blue and they are on their knees. Most of this money will go to blue states.
Margorie-you’re right—CA and Michigan—2 of the worst—both bankrupt—both blue—and probably the model of what the US will be soon.
Left you a message on the Prez thread—thanks for giving me your opinion.
Good morning Eleanor and Marjorie
Some governors said they do not want the stimulus money for their state because they do not agree with what is in the package. Gov. Palin is one that has turned the money down…I can’t remember the other governors. The governor I heard this morning said the stimulus money for the states wants you to create all these programs, and then when the money runs out they are left holding the bag not being able to pay for these programs! But some of the people in the state want them to take the money because it is theirs for the taking! I think this is not a well thought out plan and I fear what will happen down the line.
They haven’t turned anything down…they are just floating the tought that they might…but I betcha they take every penny like all the other states because there isn’t a one of them who hasn’t experienced finacial difficulties due to lower tax collections.
What programs?
I know they have or hope to create projects which are totally different thing.
A project may end when it is over but if the workers have been contributing the the tax rools and the economy the economy will improve and more prohects will come from that…at least that is the concept but mitigating factors can always intrude.
As an unemployed individual I’d be happy with temporary work at this point because it has to pay more the the $5.50 an hour before taxes that I get on unemployment!
That’s
have been contributing to the tax rolls and the economy, the economy should improve and more projects will come from that money….
typo’s are a terrible thing ;)
Libra: Some governors said they do not want the stimulus money…
Good morning, Libra Lady.
(AP) A handful of Republican governors are considering turning down some money from the federal stimulus package… the governors of Texas, Mississippi, Louisiana, Alaska, S. Carolina and Idaho have all questioned whether the $787 billion bill … "My concern is there’s going to be commitments attached to it that are a mile long, "said Texas Gov. Rick Perry… "We need the freedom to pick and choose. And we need the freedom to say, ‘No Thanks.’"
CA’s budget passed today. CA is the most populous stated, the world’s 7th largest economy, and is the largest contributor to Fed.
California’s budget crisis (i.e. a budget is not an economy) is as the NYT wrote an ’outgrowth of the financial triptych of above-average unemployment, high foreclosure rates and plummeting tax revenues, and the state’s unusual budget woes from statutory and political practices…The state, unlike most others, requires a two-thirds majority vote in the Legislature to pass budgets and tax increases. And its process for creating voter initiatives hamstrings the budget process by directing money for some programs while depriving others of cash..Republican lawmakers have unequivocally opposed all tax increases."
The gross state product is nearly $2 trillion, largest in the U.S. California is responsible for 13 percent of the United States GDP. California’s GDP is larger than all but eight countries in the world. California’s economy depends on trade and international commerce for nearly one-quarter of its economy. Poor US trade performance/imbalances under the Bush administration hurt California disproportionately.