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That's crazy: I'd tag Calif, Illinois, Arizona and many other states at the top and places like NY, Connecticut and so on at the bottom of the crap pile.
Maybe because the REPUBLICAN state Congress jacked up the taxes to stop Brownback from making more of a mess of Kansas? Does a $320 million dollar deficit ring a bell?
Don't pretend Brownback's little conservative experiment wasn't an epic, categorical FAIL, and had the legislature not jerked him back to reality, he would have run Kansas right into junk status.
You are both right, Brownback made a mess, but we won't have long term damage to our state like what is happening in some other states. Kansas's credit rating was already restored a level. Our education system is still going strong, our per pupil spending is almost exactly at the national average. Our courts intervened on the education budget and didn't allow the cuts Brownback attempted to implement.
Kansas is very Republican, but it is not a historically idealistic state. Moderate republicans have historically done very well in Kansas.
The LLC exemption was retroactively removed starting Jan 1 2017, so our tax revenues will be adjusted. So really the deficit will be lower then $320 million and perhaps we can see a surplus going into future months, only time will tell.
I'm personally happy that our state saw the problem and threw out partisan politics to fix that problem. If only that could happen in the federal government.
California, New York, whatever other state has been controlled by socialists.
Research before you speak. NY's pension system is funded. New state employees join a less generous pension system. Making blanket generalizations is stupid.
Kansas is the poster child of why trickle down economics does not work.
I am still waiting for liberals to blast Obama on Trickle Down Economics.
QE is a variation of Trickle Down Economics.
Every Fed pick big or small Obama made to a Trickle Down pusher.
Trickle Down QE Economics didn't start until Obama won in 2008 and met with Bernanke and then he quickly renominated Bernanke.
If Obama opposed QE Trickle Down, he could simply not keep picking the QE Trickle Down pushers. Obama had more Trickle Down economics on his watch than any president in US history. Surely, you agree that Obama's economy did not work!
I am in public finance invest,want banking and it will be New Jersey and Connecticut. Puerto Rico, Chicago, and Illinois truly were not hard to see coming several years in advance. In my opinion, those entities are running Ponzi schemes at this point when trying to access the debt capital markets.
There really seems to be a pattern there with population loss, big spending , unions and these high government pensions. These governnmemts just turn to tax and tax and people keep leaving. I don't see how Chicago can deal with this pension nightmare , I have seen figure of 251 billion in pension liabilities.
There really seems to be a pattern there with population loss, big spending , unions and these high government pensions. These governors just turn to tax tax and people keep leaving. I don't see how Chicago can deal with this pension nightmare , I hav seen figure of 251 billion in pension liabilities.
Funny that you should mention pension obligations and unions. For many states and cities it is police and fire fighter pension agreements that are crippling budgets, but yet those two are never demeaned by most people with anti union sentiments. The teachers pensions are problematic but that is more of an outcome of older states in the northeast having so many hyper localized (and mostly Republican dominated) school districts.
Kansas. Not only are they in financial trouble but have nothing to show for it. At least the other states have a good school system. Kansas is the poster child of why trickle down economics does not work.
So you want to use a deflection to an outlier instead of pointing out the massive debt major populated states are running up because of leftist/socialistic irresponsibility?
The underfunded pensions are just incredible with the Democrats buying the unions off for kickback campaign contributions & votes. Some of the politicians should be held accountable for their fiscal irresponsibility for their own self gain.
Funny that you should mention pension obligations and unions. For many states and cities it is police and fire fighter pension agreements that are crippling budgets, but yet those two are never demeaned by most people with anti union sentiments. The teachers pensions are problematic but that is more of an outcome of older states in the northeast having so many hyper localized (and mostly Republican dominated) school districts.
I was reading about the pension crisis in Chicago and the numbers are insane , my dad had a phd and did very well in business and he never retired with this kind of money . I will never have see this from social security and retirement and being in the private sector . This is in Chicago
60 percent of state pensioners retired in their 50s, many with full pension benefits.
Over half of state pensioners will receive $1 million or more in pension benefits over the course of their retirements. Nearly 1 in 5 will receive over $2 million in benefits.
Almost 60 percent of all current state pensioners can expect to spend 25 or more years collecting benefits, based on approximate actuarial life expectancies. Due to automatic, 3 percent compounded COLA benefits, those pensioners can expect to see their annual pension benefits double in size.
The average career pensioner – retired after Jan. 1, 2013, with 30 years of service or more – receives $66,800 in annual pension benefits and will collect over $2 million in total benefits over the course of retirement.
the average career pensioner will get back his or her employee contributions after just two years in retirement. In all, pensioners’ direct employee contributions will only equal 6 percent of what they will receive in benefits over time"
Attention, right-wing morons: California was recently ranked as having the second-best economy in the US. It's highly unlikely that it's going to falter. You people need to read something other than Breitbart for your news once in a while.
If you want to find a state in trouble, you may want to look toward the bottom of the list. The bottom six states are heavily Republican states.
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