Reuters: U.S. governors seek $1 trillion federal assistance

January 3, 2009 by Rightshift

Where does it end? I saw this story on Drudge linking to Reuters (see article here).

The Democrat governors of the spend-happy states of New York (David Patterson), New Jersey (Jon Corzine), Massachusetts (Deval Patrick), Ohio (Ted Strickland), and Wisconsin (James Doyle, Jr.) all propose that the government provide ONE TRILLION dollars in "aid" to these states due to tax revenue shortfalls and their inability to meet their commitments. Now correct me if I'm wrong, what's wrong with the government slashing its own pork off of its fat ass??

We need to take a step back to assess and digest just how much money they're asking for... this is insane! Right now we're approaching $12 Trillion in debt... that is a staggering figure, and now what these governors are asking is One Trillion OVER AND ABOVE the 1.2 Trillion in the bailout packages already floated... the government is just PRINTING money to pay for all this! The ramifications of these actions will be unavoidable, this will cause a devaluation of the dollar combined with drastic reductions in buying power and income... this will make the Carter years, and the Great Depression look like hiccup recessions.

Unfortunately, I cannot recall the name of the economist who said it (I was in transit on an early Saturday morning to work) where he stated that right now, the amount of debt this nation is carrying is fast approaching the point where it will exceed the value of every holding in the country... think of it this way... its like you yourself, have more debt than what every possession you own including your house, car, 401k, savings, etc... is worth combined. America's debt will exceed its land value, the houses and buildings on it, and the possessions of everyone in the nation. How does one pay back such staggering amounts of value?

The problem here is truly in part to politics on both sides of the isle playing footsie with voters to bolster incumbency to be sure... the real problem is that the government has for far too long exceeded its Constitutional authority to do what it has been doing. Liberal democrats have been playing fast and loose with their interpretations of the Constitution, as has the liberal elements in SCOTUS (I get a laugh when they run to foreign law to bolster their opinions knowing full well the Constitution doesn't allow it). Andrew Wilkow had a quote from his wife which I find fascinating... "Conservatives view the Constitution for what it says... Liberals see the Constitution for what it CAN say." translation, they see what they want and just do it regardless of what it really says.

People.. we are in heap big pile of shit... and you need to look up from your Latte's and iPhones for a few minutes and smell the real coffee that is burning... and your house is on fire as we speak.