Governments Flat Broke But Spending Freely

Your money is at risk of becoming an endangered species. While the economic woes of the last couple of years have certainly affected everyone, city and state governments have been beaten to a pulp, comparatively.

Consider the city of Los Angeles, …all is not well in La La land…in the city of angels, movie stars and fashionistas, Los Angeles is facing a budget deficit of $600 million over the next 18 months…with fears that it could easily balloon to over $1 billion by the end of 2011…$1 billion for a single US city!

Saddled by a liberal mayor with an even more liberal city council, closely tied to labor unions, the government of Los Angeles has been unable…or perhaps unwilling, to make the necessary and many times unpopular cuts to help bring the budget deficit in line. They cannot seem to balance the checkbook…if less money is coming in…then it is logical that less has to go out.

Simply raising taxes and fees, always a simple solution, doesn’t work any longer…people who live in Los Angeles pay sales taxes of nine and three quarters percent…..nine and three quarters percent!!

It just seems apropos that L.A. is in California, which is also basically flat broke and getting worse by the day…California is facing a $20 billion budget shortfall…and while this goes on, the legislature spends its time debating a “no cussing week” resolution….trust me, that really happened, you can’t make this stuff up.

And it isn’t just L.A. and California…Illinois, New Jersey, Wisconsin, Oregon, Louisiana, Washington, even the paradise of Hawaii are all facing unprecedented budget shortfalls.

So no matter where you live, you will hear warnings that education, fire protection and police cuts are going to be made, because, well, those are the cuts that get our attention…

But why is it that the really silly things governments spend money on never seem to get cut?

Under the American Recovery and Reinvestment Act of 2009, Field research
is being proposed to include three annual two-month expeditions to Egypt,
with the objective being the discovery and analysis of new fossil
whale material that fill gaps in early whale evolution. We’re going to spend millions to study old whale bones in Egypt….

Like I said, you can’t make this stuff up!

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