Central Falls - Bankrupt

[Hollytree]

The last decade! Being a worrywort is usual in this day and age, but while you're vascillating, you're paying rent and that never got anyone anywhere.

At least with home ownership, if you buy at the right price, you can resell, often at a profit or, at worst, get your money back. Yes, even now kids!

[treasurekidd]

I guess that's not where you live, otherwise you would realize that.

First off, I live in Warwick, which is in pretty good financial shape compared to most other towns in RI. Why do idiots like you always try to make your point with a sneaky little smart___ comment like that? It's usually because you can't win the argument on facts.

I haven't heard any politician explain how a shrunken government will result in jobs. Can you explain it?

Yes, I can. I agree that jobs have been leaving New England for decades, first to southern states, then to Mexico, then to Taiwan, China, and now the Philippines and India. But I never said that shrinking government would bring them back. Shrinking government spending is not a solution to the jobs problem, but it is a necessary response to the it. This trend has been apparent for decades, and yet our government, and many of our fellow citizens, have refused to accept the fact that those jobs are NEVER coming back and we need to downsize our spending accordingly.

When my wife lost her full time job 5 years ago, we were forced to cut back our spending and adjust our finances to fit the new reality that we faced, and we did it successfully. We actually did better on less money, because the loss of her income scared us into paying off all of our debt (except our mortgage, which is on track to be paid off 12 years early), increased our savings and investing, and kept limits on other expenses. But what would have happened to us had we not changed our behavior to adapt to our new reality, and instead sat around and said "if only we had another job!". We would have been living paycheck to paycheck, always on the brink of financial disaster if something bad came along and did further damage to our finances - something like a recession. This is basic money management 101 that anyone would half a brain SHOULD understand, but most don't - ESPECIALLY politicians.

The problem with politicians at all levels is their refusal to understand and accept the changing economic realities in this country and to prepare their balance sheets for those realities. If they spend, spend, spend and run large deficits in good economic times, than what do they expect is going to happen when a recession comes along, decimating their tax revenue and sending social safety net cost like food stamps and unemployment benefits through the roof? So yes, you are correct in that shrunken government in and of itself will not result in jobs, but it's time to face the simple fact that those lost jobs ARE NOT COMING BACK, and they took massive amounts of prosperity and tax revenues with them. Politicians seem to be under the impression that when the economy recovers, all their revenues are coming back, when it is perfectly clear that they're wrong. Is that clear enough?

[rosco917]

shrinking government will lessen government regulations, this government spends over a trillion dollars a year on regulations. Now... some regulations are called for, nobody wants to ruin the air we breath. But, there is a happy medium that will allow job creators to operate, but not pollute and damage our resources. We are not close to a happy middle.

"Obama care" is a future albatross ,it has everyone scared to make a business move, (except the chosen few who have been given a pass.) Everyone is tightening there belts and just sitting, while slowly sinking.

"Balance" is always the key, if the fringe left would stop trying to advance there far left agenda, and the far right would stop there far right agenda, we would not have so many people polarized, and going to war with each other all the time. Our Political systems problem is when one side is in power they drive like crazy to the "right or left" and distort true balance and bi-passing the successful medium. It's simple we must revert to the ideals our founding fathers put forward. As time has passed the left has gone way far to the left and the right has gone too far to the right. With the 24 hr. TV media, the extremes both suck all the air out of the room.