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Monday, May 14, 2012

Greece headed into 'out of control bankruptcy' - California Follows in Footsteps Of Greece - Maryland Right on the Footheels of California As Pension Fund Proposed to Shift to MD Counties

California follows in the footsteps of Greece

Back in the USA, the state of California is accelerating toward much the same outcome.

Suffocated by the terminal financial burden of leftist social programs, welfare handouts, runaway social services and health care costs for its millions of undocumented residents, California is also headed for its own financial implosion.

"We are now facing a $16 billion hole, not the $9 billion we thought in January," said Gov. Jerry Brown in a recent New York Times article. "This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year."

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Maryland - although not in as dire shape as California - it does show signs of progressing down the same path as California. With Maryland's proposed MOE spending formulas, social programs, underfunded State pensions, may also be headed for its own implosion.


Anonymous said...

and what are our illustrious leaders doing. the dimwits are spending more. not cutting as they should have been doing all along. no; they only know how to spend. after all it's not their money they are spending, it's yours and mine.

have you had enough yet? well, if so, do something about it. don't just sit there and complain. get off your duff and make a difference.

Anonymous said...

They know now it's unsustainable! So, why not push hard and grab all you can get before it all comes crashing down! And, if it doesn't? Hoop de doo! WHEN it does, it will involve the whole country. The Revolution will not be televised or be on the "net", because there will be none until the entire government is fired and "reconstituted", which is a really great word in my book!

Anonymous said...

Anywhere democrats are in charge as in California,Maryland,Michigan etc,you are going broke!