DownsizeDC.org
January 17, 2011
No State Bailouts!
By John Markley

Quote of the Day: "We have too many high sounding words, and too few actions that correspond with them." -- Abigail Adams (1744-1818) Source: letter to John Adams, 1774

Many states can't pay their bills. Their unfunded obligations total trillions of dollars. Some of these states will want a bailout from Congress. Do you want to pay for this, or should the politicians and the unions who created these messes feel the pain instead of you?

I wrote Congress telling them to oppose any bailout of our corrupt and incompetent state governments.

I encourage you to do the same, using our "No Bailouts" campaign. The hardwired letter to Congress reads . . .

"No government money, whether borrowed or taxed, should ever be used to bail out private financial interests, or wasteful state governments."

If you want to add to this letter you may borrow from or copy what I wrote . . .

Many states are bankrupt because of . . .

* Overly-generous pension deals with government employee unions
* Pork, waste, and bloated programs
* High taxes and draconian regulations that drive away businesses and destroy jobs

The politicians and unions in these states are hoping . . .

* Congress will bail them out by increasing the national debt and raising taxes -- a burden on our children
* The Federal Reserve will bail them out using legalized counterfeiting to buy state and local bonds -- inflating away the retirement savings of millions of honest taxpayers by creating trillions of new dollars out of thin air

You must stop these things from happening.

Last year, the Public Employee Pension Transparency Act was introduced in the House. It would have barred any federal agency, including the Federal Reserve, from bailing out state pension programs. A similar bill should be introduced this year. The states broke their pension programs, and the states should fix them.

If you want to help the states . . .

* End all unfunded mandates
* Repeal federal regulations and simplify the tax code so that it will be easier for business to create jobs again

It's time for the states to start downsizing their bloated spending. Federal bailouts will only delay what needs to be done, and spread the damage from the guilty to the innocent.

END LETTER

You can send your letter using DownsizeDC.org's Educate the Powerful System.

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Jim Babka
President
DownsizeDC.org

Filed under Government Failure
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