Comments on: Budget Crises http://www.bradfarris.com/budget-crises Brad's Brain; on the Internet Wed, 08 Sep 2010 21:35:45 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Making Your Budget a Useful Tool All Year Long | BradFarris.com http://www.bradfarris.com/budget-crises/comment-page-1#comment-127 Making Your Budget a Useful Tool All Year Long | BradFarris.com Mon, 15 Mar 2010 13:56:22 +0000 http://www.bradfarris.com/?p=308#comment-127 [...] we saw in a prior post, Budget problems abound.  Our Government budgets are in deficit, many personal budgets are in deficit, is it any surprise [...] [...] we saw in a prior post, Budget problems abound.  Our Government budgets are in deficit, many personal budgets are in deficit, is it any surprise [...]

]]> By: Greg Burneske http://www.bradfarris.com/budget-crises/comment-page-1#comment-126 Greg Burneske Sat, 13 Mar 2010 23:27:29 +0000 http://www.bradfarris.com/?p=308#comment-126 I wish I could be as optimistic as Candy. I think we need a fundamental change in our approach to, and expectations for, government. I don't see that happening anytime soon. A couple weekends ago, here in Minnesota, a group of state workers (AFSCME union members, of course) went to St. Paul to protest potential cuts to their budget. Their message was don't cut our budget because "people need our services". Can anybody win an election by cutting programs and saying no to state employees? I don't think so. And the worst problems are not at the state level. Most states have to balance their budgets one way or another. Maybe their bond ratings get kicked around a little, but it seems that eventually states have to pull it together. Even if a couple of states were to go bankrupt (and I'm not saying this will happen) it might not be the worst thing. I think the effects would be short lived because a large percentage of state budgets are transfer payments to local governments and school districts anyhow. Bankruptcy would simply mean a transfer of obligations from state to local governments. Bringing the decisions closer to home might actually be a good thing. We might not see as many pro sports stadiums built, but in the scheme of things... I am more concerned about the federal budget. Despite the grim projections for Medicaid, Medicare, and SS the former Senator from IL is hell bent on finishing the job started by FDR decades ago. Hopefully we can dodge this bullet, but if the Dems go ahead with the nuclear option.., oh well. I wonder how much harder it will be to finance the deficit (especially with the Chinese) if a multi-trillion dollar healthcare program gets passed. When Congress, gets serious and finally cuts something dramatic (e.g. eliminates the redundant department of education, or starts a phase out of the SS ponzy scheme) I'll feel better about the prospects for the federal budget. Right now, I don't see anyone with the political will (or voter support) to do what needs to be done. The Republicans talk big but it is easy to talk big when you ain't got the votes. OK, my blood is starting to boil so I better get back to work. Someone's got to pay for all this stuff! I wish I could be as optimistic as Candy. I think we need a fundamental change in our approach to, and expectations for, government. I don’t see that happening anytime soon.

A couple weekends ago, here in Minnesota, a group of state workers (AFSCME union members, of course) went to St. Paul to protest potential cuts to their budget. Their message was don’t cut our budget because “people need our services”.

Can anybody win an election by cutting programs and saying no to state employees? I don’t think so.

And the worst problems are not at the state level. Most states have to balance their budgets one way or another. Maybe their bond ratings get kicked around a little, but it seems that eventually states have to pull it together. Even if a couple of states were to go bankrupt (and I’m not saying this will happen) it might not be the worst thing. I think the effects would be short lived because a large percentage of state budgets are transfer payments to local governments and school districts anyhow. Bankruptcy would simply mean a transfer of obligations from state to local governments. Bringing the decisions closer to home might actually be a good thing. We might not see as many pro sports stadiums built, but in the scheme of things…

I am more concerned about the federal budget. Despite the grim projections for Medicaid, Medicare, and SS the former Senator from IL is hell bent on finishing the job started by FDR decades ago. Hopefully we can dodge this bullet, but if the Dems go ahead with the nuclear option.., oh well. I wonder how much harder it will be to finance the deficit (especially with the Chinese) if a multi-trillion dollar healthcare program gets passed.

When Congress, gets serious and finally cuts something dramatic (e.g. eliminates the redundant department of education, or starts a phase out of the SS ponzy scheme) I’ll feel better about the prospects for the federal budget. Right now, I don’t see anyone with the political will (or voter support) to do what needs to be done. The Republicans talk big but it is easy to talk big when you ain’t got the votes.

OK, my blood is starting to boil so I better get back to work. Someone’s got to pay for all this stuff!

]]> By: Brad Farris http://www.bradfarris.com/budget-crises/comment-page-1#comment-125 Brad Farris Wed, 10 Mar 2010 16:40:10 +0000 http://www.bradfarris.com/?p=308#comment-125 This just in! Gov. Quinn says that if we borrowed $4 bill and cut 13K jobs, Illinois' budget would only be $11 bill in the hole. http://www.chicagotribune.com/news/elections/ct-met-quinn-state-budget-0310-20100309,0,4279309.story This just in! Gov. Quinn says that if we borrowed $4 bill and cut 13K jobs, Illinois’ budget would only be $11 bill in the hole. http://www.chicagotribune.com/news/elections/ct-met-quinn-state-budget-0310-20100309,0,4279309.story

]]> By: Andy http://www.bradfarris.com/budget-crises/comment-page-1#comment-124 Andy Wed, 10 Mar 2010 14:56:18 +0000 http://www.bradfarris.com/?p=308#comment-124 My personal belief is that governments nationally have gotten too big. If I were in charge I'd sell off as many services to the private sector as I could, from public transportation to medicare. I'd avoid instituting any new regulations so the wonderful beast called the free market could get to work providing increasingly higher quality at lower and lower prices. My personal belief is that governments nationally have gotten too big. If I were in charge I’d sell off as many services to the private sector as I could, from public transportation to medicare. I’d avoid instituting any new regulations so the wonderful beast called the free market could get to work providing increasingly higher quality at lower and lower prices.

]]> By: Brad Farris http://www.bradfarris.com/budget-crises/comment-page-1#comment-123 Brad Farris Wed, 10 Mar 2010 14:20:08 +0000 http://www.bradfarris.com/?p=308#comment-123 I recently saw a USA today article that said that Federal workers earn on average 10% more than private sector workers and their benefits are worth 400% more than private sector workers. (see http://tinyurl.com/yeo8l2t) I think that's got to change. But I do hope you are right Candy and they can get it sorted out. I recently saw a USA today article that said that Federal workers earn on average 10% more than private sector workers and their benefits are worth 400% more than private sector workers. (see http://tinyurl.com/yeo8l2t) I think that’s got to change. But I do hope you are right Candy and they can get it sorted out.

]]> By: Candy Beauchamp http://www.bradfarris.com/budget-crises/comment-page-1#comment-122 Candy Beauchamp Wed, 10 Mar 2010 13:29:56 +0000 http://www.bradfarris.com/?p=308#comment-122 They will sort it out eventually, most of them can find places to trim the fat (and/or raise taxes *eye roll*). It is a little ridiculous that with the kind of manpower and supposed knowledge that these large governmental agencies have behind them that they cannot get a workable budget. Luckily, here in Austin, things are going pretty well. The Austin ISD (independent school district) is having a financial crunch and some other things, but there's nothing going on that would cause you to go all chicken little. In fact a friend of mine and I were talking about how we got a letter from the census bureau this week. Do you know what that letter said? That letter was informing us that we would get our census soon and wanted to remind us to look out for it. Yes, my friends, they sent a letter to tell us they were sending us a letter. I wonder how much that cost taxpayers? Hmmm.... They will sort it out eventually, most of them can find places to trim the fat (and/or raise taxes *eye roll*). It is a little ridiculous that with the kind of manpower and supposed knowledge that these large governmental agencies have behind them that they cannot get a workable budget.

Luckily, here in Austin, things are going pretty well. The Austin ISD (independent school district) is having a financial crunch and some other things, but there’s nothing going on that would cause you to go all chicken little.

In fact a friend of mine and I were talking about how we got a letter from the census bureau this week. Do you know what that letter said? That letter was informing us that we would get our census soon and wanted to remind us to look out for it. Yes, my friends, they sent a letter to tell us they were sending us a letter. I wonder how much that cost taxpayers? Hmmm….

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