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State Debt Woes Grow Too Big to Camouflage

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PeteEU

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Partisan said:
That's OK, obama will save Alaska with the new drilling.....;)
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Considering Alaska has massive revenue.. or supposedly massive revenue from oil already then.. they dont even pay income tax up there do they?
 
PeteEU said:
Considering Alaska has massive revenue.. or supposedly massive revenue from oil already then.. they dont even pay income tax up there do they?
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No, in fact every person gets a kickback from oil revenue every year......;)
 
With such a small population and tons of potential revenue from oil drilling, you wonder how Alaska even managed to go broke at all.
 
Would this be the reason Palin resigned way before her Term as Governor was complete?
 
PeteEU said:
Payback Time - States? Debt Woes Grow Too Big to Camouflage - NYTimes.com

Worst state.. Alaska.

Interesting article, that exposes quite a lot. 4 of the top 5 debt ridden states can be considered Red or "redish", and California may be taking the headlines but it is in no way as bad a state as Alaska or Rhode Island.

Business > Image >

For those that can see popups :)
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I don't see how you believe RI is a "red" state, but most of the major states in huge trouble are all liberal democratic: NJ, NY, CA, IL, OR.

Even if AK has issues, there's not many people there? If CA, NY and IL go into bankruptcy the nation is in deep trouble.

Personally, I look forward to the breaking of the public unions, and their pensions being severely reduced, even for current retirees.

The obscene GM bailout that used MY money to pay for the retiree benefits of GM workers was an unforgivable crime - and now the Obama welfare/health care plan. I'm losing not only my incentive to work, but to stay in this country.
 
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jujuman13 said:
Would this be the reason Palin resigned way before her Term as Governor was complete?
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Hazelnut, I see you are like me in that you too do not read every post in a thread.
 
jujuman13 said:
Would this be the reason Palin resigned way before her Term as Governor was complete?
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We can only hope Obumble follows suit. Have you seen his debt-to-GDP ratio?
 
rogerredy said:
I don't see how you believe RI is a "red" state, but most of the major states in huge trouble are all liberal democratic: NJ, NY, CA, IL, OR.

Even if AK has issues, there's not many people there? If CA, NY and IL go into bankruptcy the nation is in deep trouble.
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Did I say that RI was a red state? no.

And yes if CA, NY or IL go bankrupt then you are in trouble, but as it stands now these states are relatively better off than Alaska, RI, New Mexico, Ohio and Mississippi. First then comes Illinois and New York and California are way down the list of the top 25 states in debt.

But it is a bigger problem than that if you ask me. The US as a whole is in deep debt as the right loves to point out, and on top of that the states are in deep debt as well. So it is a double wammy so to say waiting to explode if things go wrong. The US needs 3+% growth just to keep up it seems according to the article, and good luck on that.
 
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