FOX BUSINESS published the figures on the sad state of the financial woes of Liberal states. These are their deficits (and it's getting worse):
CT $53B
IL $30B
NY $365B
NJ $104B
CA $428B
The question is: have these states passed the point of no return?
Liberals view economic success with suspicion and try to punish it with high taxes and stifling regulations. Those who do well then tend to leave these states, leaving behind people who do less well, demand more govt services and pay less tax. In fact, these states have a hard time making payments on pensions and their bonds are (or approaching) junk bond status.
Liberals hope to foist their debts on all other states. Sen Fauxcahontas of MA wants to raise Federal income tax to 50%, like in the Socialist states of Europe. I hope she runs on that platform for President.
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