Should the States be Helped? Richard Ravitch: Washington and the Fiscal Crisis of the States - WSJ.com

Richard Ravitch: Washington and the Fiscal Crisis of the States - WSJ.com:

"Sadly, the states and the Democrats in Washington and their union cronies believe there is always another golden goose to sacrifice to social benefits, early retirements, etc., etc., etc.

Never do we hear about doing things to encourage the well-being of businesses and rewarding productive workers. Instead, the producers are looked upon as limitless suppliers of largess to be handed out by government - with no consequences.

Well, there are consequences. Those states with higher tax rates also show higher unemployment rates. Where union demands have really run-a-muck, as with the UAW and GM, investors have been wiped out.

This article would have been more productive if it had looked at building up the economy rather than looking for ways to sustain what is clearly excessive government spending.

As citizens, we just have to make decisions as to expected outcomes. Sadly, for those receiving government benefits, the liklihood is that at some point they'll be reduced (by how much and how drastically, that's something else - as the lieutenant governor discusses in part). Even more sadly, for those who would like to sustain, grow or start a business, they have to recognize that more of what they produce will likely be taken by government - so they'll end up with less; and, that as government borrows more and more money, the long-term debt will grow, debt servicing costs will rise and private borrowing will become both more expensive and less available.

Nothing is said about encouraging Americans to accumulate capital and look to taking care of themselves.

History and common sense certainly don't suggest a positive outcome."