Isn’t it frustrating to watch a magician you have seen before perform the same trick and still not be able to figure out how he hid the dove until he pops out of his hat? It is the same feeling one gets watching the spectacle of the most recent version of a Bailout from Washington. Of course this was “only” for 26 billion and I suppose one should consider the chump change these days with hundreds of billions and even trillions thrown against the wall by our politicians in Washington. This latest travesty is supposedly all about helping the unemployment rate and saving jobs for those vital public employees we all love–teachers, firemen and policemen. We have seen this trick before and know the outcome.
First, its worth noting that teachers, firemen and policemen are l0cal concerns and the responsibility of local governments. The fact is that this money is for California and New York more than anyone else and we all know it even if that won’t be publicly articulated. When questioned the Dems shift the conversation to something else. Where in Article One, Section Eight of the Constitution does it say that Congress has the power to fund the police department in Oakland or pay for teachers in New York City? Beyond that why the devil are hard working folks in Indiana, Kansas, Wyo. and the other states having to pay for the incompetence and profligacy of California and New York? Let those states deal with their own problems and figure out their own solutions. The ants are being forced to feed the grasshoppers who dawdled and fed all summer long.
At the beginning of the financial crisis there was much talk and brouhaha about the “moral hazard” issue of bailing out Wall Street. That was a valid point then and now. But now that the largesse of Government, Inc. is being poured out to public union employees there is not a word of concern about the moral hazard issue for the spend thrift states. The issue is that you can’t have what you can’t afford. If you overextend your credit and no more is available you have to cut back. That applies to individuals and should apply equally to the States.
If they have to fire teachers, so be it. That is the consequence of their own actions and inactions. By the way, I bet you they could find thousands of clerical staff that could be cut first for other agencies and that there are thousands of administrative staffs employees in California and New York that could be let go before teachers. Why are public employees sacred cows? What made them immune to hard times like the rest of us? The bottom line for many of us is I just don’t care. They don’t deserve my sympathy or empathy and they darn sure are entitled to my charity. They are reaping the things they sowed with ridiculous salaries and benefits for their public employees. You have seen the recent studies that were even reported in the left leaning USA Today. Those public employees have it made and made by tens of thousands more in pay and benefits than their private worker counterparts. Why can’t those salaries and benefits be cut? The answer is obvious, they could be but that might cost the Democrats some money and votes in future elections.
In the early 6th century the Byzantine emperor Justinian ruled with such an iron hand and expanded the reach and power of his government so much that he got the unintended consequences of less rather than more. His taxes were onerous and then he established government-favored industries in the silk trade. These government sponsored enterprises became monopolies in short order. Those who had been involved in the silk and dye trade did the thing that oppressed people have done for millenia–they moved. They went to even the hostile environs of Persia. Of course trade and revenues for the Empire declined. Now it is public unions and GM and Chrysler being blessed with the taxes of others. What will the oppressed do this time? They may decide to stay and fight rather than move to “Persia”.
The hypocrisy of it all is particularly galling. We have truly become “Bailout Nation” and the Dems are suffering from fiscal nymphomania. They care only about votes and power not the average Joe working for a living. But they will fall all over themselves for Jill if she is a public employee. The people need to feel their government is responsive to their needs and wishes and will more than anything play by the rules of the game. The Dems are rigging the game and lying about it to boot. Let’s hope those folks in California and New York choke on every one of those stolen dollars from the rest of us. They should be ashamed to take any of it. Sadly, it would appear they have lost the moral capacity to feel shame.
Well, in case you didn’t already know it the economy is not doing very well per the Fed’s pronouncement as of yesterday. Why the Market reacted so negatively is beyond me. They didn’t say anything that everyone had not already intuited. But I guess is more profound when an “authority” confirms your worst fears. http://www.ocranky.wordpress.com