And lets not forget the Big Lie that all the States have to “balance their budget”.
States get funding from the Fed for everything from meeting weekly payrolls to supplying slush-fund campaign bribes. Every single State in the Union is operating in the Red.
We can pretend its a balanced budget at the State level because outlay matches “income” for a given period, but remember the INCOME is in large part an artificial debt that will be passed on to our grandchildren.
State purchased lap-tops, traffic lights, police cars, K-9 units, SWAT vans, padded overtime, salary, retirements…from Federal Dollars, so All of it is Future Debt (plus interest) tomorrow, for State Level spending today.
Put it this way…
My wifes Grocery Budget for our family is “balanced”, she doesnt “overspend” more than we have…because I direct deposit CASH to her Grocery account, using a Home Equity Line Of Credit….
Wow, isnt SHE a wonder of fiscal responsibility that we should all copy?
Red ink is red ink, people.
States are just as bad, if not worse, than the Fed.
