U.S. Governors Seek $1 trillion Federal Assistance |
If politicians, especially but not limited to Democratic politicians, had any sense, the above headline would read: “U.S. Governors Seek $1 trillion in state budget cuts.” But like the Walgreen’s commercial says, ‘that’s the way it would be done in the town of Perfect, but since we don’t live anywhere near Perfect’…………This pork barrel proposal must be stopped. We are already $11 trillion in debt. None of this stuff has ever worked before and it won’t work now. Other than lining their own pockets and buying votes, what do these ward heelers hope to accomplish with this $1 trillion bailout? I’ll tell you. They don’t want to trim their payrolls. As you know, private industry has shed almost a million jobs in the last two reporting months. The Governors should face financial reality and realize that some cut backs have to be made. The Governor’s request to waste more federal money should be responded to with a resounding NO!
~~John Cronin~~
http://www.reuters.com/article/newsOne/idUSTRE5014F120090102
Tags: Deval Patrick, John Corzine, Republican Governor's Assoc.By Jon Hurdle
PHILADELPHIA (Reuters) - Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country’s 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.
The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin — all Democrats — said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues.Gov. David Paterson of New York said 43 states now have budget deficits totaling some $100 billion as tax revenues plunge.
“It’s clear that the federal government needs to step in and jump-start the economy,” said Gov. Deval Patrick of Massachusetts.
The latest package calls for $350 billion to create jobs by building or repairing roads, bridges and other public works; $250 billion to maintain education; and another $250 billion in “counter-cyclical” spending such as extending unemployment benefits and food stamps, which are typically a responsibility of the states.
The remainder would be used to fund middle-class tax cuts, stimulate the embattled housing market, and stem the tide of home foreclosures through a loan-modification program.
Gov. Jon Corzine of New Jersey said he hoped some of the $700 billion authorized by Congress in the Troubled Asset Relief Program would be available to help the housing market.
The governors said during a conference call with reporters that the plan had been discussed with Congressional leaders and the incoming administration, which had indicated its willingness to help.
“The Obama team has been very receptive in listening to us,” said Gov. Jim Doyle of Wisconsin. He said “quite a number” of other governors back the initiative.The Republican Governors Association, however, said the level of federal aid being sought would create a burden for the future.
“The proposal by the Democratic governors goes beyond things like ’shovel-ready’ infrastructure projects and is essentially a bailout of these states’ general funds,” Nick Ayers, executive director of the Republican Governors Association, said in a statement. “Now is the time to focus on finding cost-effective ways to provide essential services without burdening future generations with ever greater debt.”