Just Curious....

[als2052]

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?

[mickeystoysz16]

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.

[vett boy]

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.

[Rich Z]

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"?

[mickeystoysz16]

Originally Posted by Rich Z

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.

[Rich Z]

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.

[Z06 Rocket]

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.

[Mannings]

This will upset some of our Forum members but I believe it's the union contracts that a minority of the population enjoys and a majority of the population pays.

By choice, I work my a$$ off 60+ hours a week, contribute 25% of my earnings to my retirement that is match by a 3% employer contribution, typical 401K. Notice I said I contribute I have responsibility for my retirement, where does a state employee get off expecting me to pay for 100% of their retirement while working in a career they choose.

I view many of the government benefit packages as High Class Welfare. Gov Scott has asked them to contribute 3% of their wage to cover a portion of their retirement cost and help reduce the states budget and they protest and threated a strike. What he should have done was give them a 3% match on their contribution in a 401K and make them responsible for their future like most of us are.

Everyone is for cost cutting unless it affects them.

[Smmmokin']

AMEN!!!!

[Rich Z]

Originally Posted by Mannings

Everyone is for cost cutting unless it affects them.

Absolutely! And when it affects them, they will be marching off to court using the defense that such benefits they have been receiving in the past are now RIGHTS that they demand that government MUST continue forking over to them.