Just Curious....
 

What has Gov Rick Scott done for your lately?

Where are those 700,000 jobs he promised?

If you are in the FRS, your thoughts?

Cancelled engineering and construction jobs by denying federal funds for high speed rail.

Cancelling extended unemployment benefits as of 1/1/2012 and as an employee I paid for those benefits as part of my salary and employment agreement with my employer.

It does not matter who is in office, the interest of the politicians is not to help those they represent but to help themselves.

37 % of all private sector jobs created last year was in Texas .A lot of those jobs a better paying trade and manufacturing jobs .

That said I believe that the country is not coming out of recession but going in deeper and deeper .It wouldn't take much for the economy of this nation to completely collapse.

It's not just Florida.

I believe the country's economy has already collapsed, but they just aren't telling us. They are fighting to RAISE the dept ceiling over 14 TRILLION dollars? There isn't a snowball's chance in hell they will ever be able to balance the books. How do you define "bankrupt"?

I am not sure just from what I have read, no real proof to back this up but $14T is anywhere from 25-45% of current GDP. So we are nowhere near default. It is more like overdrawn spending wise on the credit card and congress is asking for a credit increase on future growth. If we were 100-150-200% leveraged to GDP like some European countries then I would agree.

As far as economic collapse here in the us I am not sure because the accepted definition of recession is 2 qtrs of negative gdp growth and a depression is 4 consecutive qtrs of negative gdp growth. In the 2008-2009 recession we had 3 consecutive. 3rd and 4th QTR 2008 and 1st QTR 2009.

The first QTR of this year 2011 was a final of POSITIVE 1.9% GDP Growth. So I do not think we will collapse like Lehman and Bear Sterns in 2008. I do believe that we are going nowhere with 1-2% annual growth for a long time.
I call this screwflation, where corporate profits, especially those that benefit from commodities inflation will remain strong but personal balance sheets are screwed.

Hmm, so does accumulated debt every year just go away?

I just read an article in the newspaper a few minutes ago stating that the US government is borrowing more than $100 BILLION per MONTH just to pay current bills. That means every month this country is getting deeper and deeper into debt, and apparently no end in site.

How could any company operate in such a manner?

Furthermore, is borrowing money from China all that wise of an idea?

Anyway, back to topic, as for Governor Scott, I'm not sure what to think of the man. Certainly the opportunity to reduce government without pain to SOMEONE has long since passed. You just can't reduce government now without cutting out spending on services and the people who work to provide those services. So obviously anyone who campaigns on a promise to reduce government has little choice in how to accomplish that goal.

[quote=Rich Z;1391

Anyway, back to topic, as for Governor Scott, I'm not sure what to think of the man. Certainly the opportunity to reduce government without pain to SOMEONE has long since passed. You just can't reduce government now without cutting out spending on services and the people who work to provide those services. So obviously anyone who campaigns on a promise to reduce government has little choice in how to accomplish that goal.[/QUOTE]

Most states are faced with the same problem .Politicians promised various programs that we're paid by voodoo economics .Most states by required to have a balanced budget.

Florida has two big issues ,the housing crises and downturn in tourism .

I think most governments base their spending on PROJECTED income over 5 to 10 years. So when a downturn does take place, suddenly they are spending more than is actually coming in. A business goes bankrupt. Governments typically squeeze the tax cattle a little harder.

You are correct on the debt side of the balance sheet only. My point of view is from the Revenue side, as long as you have the ability in the future to pay it back. So on a state/federal level you can borrow $100B a month if you have the ability to pay it back.

I do agree that that much unfunded spending is not wise especially when your banker is a bunch of statist theives. Do a google search for Chineese Reverse Mergers and Chinese stock fraud and you will now what I am talking about.

No raises for the last 3 or 4 years, and now a FRS cut of 3%. We can say conservatively that if FRS employees got a 2% COLA the last 4 years (2% X 4yrs = 8%) plus the 3% contribution to retirement being removed from the checks.... That is a 11% pay cut from where the stae blue collar employees should be right now.