There is no doubt , today that Arizona , is broke. The borrowing of 700 million dollars by the State was irresponsible and will down the road prove to be a long term, tragedy. The failure of the current administration to see the only sound solution to its fiscal issues is a disgrace.
Arizona and this administration, and the preceding administration are going to give the next administration serious issues to deal with.
Immediate and drastic actions are needed now , right now.
First , all schools K thru 12, need to be closed to a three day classroom week. Or better yet, close them for a year. Maybe they would spend more time, teaching reading ,writing and arithmetic, and less time on how to bow and give praise to obama. I was in Casa Grand the other day , collecting signatures, a fella was telling me that the school system there spent 18 million dollars on a football stadium. ” Is it just me , or does that seem a bit, can i say stupid?
The education system in Arizona has been destroyed by the open borders policy of the previous administration. And apparently this one also. If I heard the State Treasure today correctly that the bulk of the 700 million went to schools. That has to be one of the dumbest moves a state could possible do with borrowed money. Schools have no ability to payback borrowed money,. And given the anti business policies of Arizona , there is no way new business growth will move into the state, bringing more tax revenue to the state. Even setting the Unions aside,.. NO WAY.
The only way , the state of Arizona is ever going to be able to repay this 1. 9 billion dollar debt will either be thru tax increases, which will drive capital out of the state, or revenue increases via sales taxes. There is one excellent way to boost sales tax revenue. But that’s my secret for now. The problem is that the residents of Arizona are rapidly running out of jobs, and cash or discretionary cash to spend on consumer goods. That problem is only going to get worse going forward.
As most of you now know I am running for Governor in 2010. I have been putting out there, at events and while collecting signatures. This, there are five must do moves, that I see would generate more revenue to the state, and not increase or add additional taxes to our taxpayers. They will not happen under this administration. This Governor wants another term, so she will continue to either tax or borrow her way to Nov 2010. Anyone see the connection between what is happening here at the state level and what’s happening in Washington?
Another issue here is this,. I have heard that the State Treasure is bragging that the ratings agencies still are rating Arizona with a Triple A rating, that’s a lot of hooey! Jobs are flying out the window. Families are moving from the state, due to the illegal alien problem, lack of jobs, and state fiscal mismanagement. The ratings agencies have been a joke for many years,. In fact they are to a large degree responsible in my view for the situation we are in not at just the state level but also the Federal level,. ie: Lehman, Merrill Lynch, Citi, and others. They have no credibility what so ever.
So to sit there and say , “Well the ratings agency , have us at a Triple A rating , is simply laughable”.
If you look at the State Treasures financial report, we have been investing taxpayer dollars in Mortgage Backed Securities, DUH!!!
and Money Markets give me a break. If there is all this money there, go get it and pay down the debt.
If we have the money to invest in worthless mortgage backed securities , and money market accounts, we are taxing the citizens of Arizona to much. It is also obvious that the Treasures office has been for some time involved in “Trades” , . I can tell you flat out , If I become
Governor , the Treasures office will not be gambling with taxpayer dollars. We will take in tax receipts , spend a percentage of those receipts, and use the rest to pay down the debt, and build a rainy day account. You can not borrow your way to prosperity , unless those funds are used to produce goods that can be sold at a profit. Period
So while you folks in Arizona that receive this , if you want to continue risking your tax dollars on trades, . I’m not your guy.
This state (government) needs a financial spanking,. To put it more bluntly it needs a asswhoppin. Phoenix is out of control. Just like the beltway. The governor of Montana was on C Span yesterday morning talking about how the Arizona Governor wants to sell the Capital building and lease it back -.good God almighty. Incidentally Montana has a 1.5 billion , that’s with a “B” Dollar surpluses.
Here’s what really needs to happen down there, they need to send everyone home for 6 months, including the Governor, and tell them don’t call us we’ll call you. Your broke, bankrupt, what is it about that that you don’t understand,.. You have brought in so many idiot policies from California, and now you look around trying to find some one else to blame. Here’s just a simple example of how screwed up things are. Two years ago they decided to levy a $50.00 septic tank tax. And told the Title companies to collect it. Look in the mirror down there, your the problem. That recent article in the Republic, that said , ” This is the way forward for Arizona” , . I can tell you as a x business man, that proposal was insidious. No one in there right mind is going to have a state tell you that you are going to pay 1.25 times the average in the state. And that you are going to provide 80 percent of health care costs for full time employees. You cant be serious. Sounds like obamanomics to me. ” This is the type of nonsense that politicians put out there when they think they know how to spur economic growth. HOGWASH!!!
Every problem we here in America face to day can be traced directly back to Government,.. Either , Federal , State, or County. We keep electing the same weasels over and over again, expecting different results. The one element that is going to prove to be good about this economy . Is that when this thing busts, those that caused all this will be thrown out or removed from office. Whether they were hired or elected.
Running for Governor has been very rewarding. And here is why. Thru this blog, I receive hundreds of responses from around the country and once in a while from an American living abroad. So I know I’m not alone in my positions. But when your standing face to face with a fellow American,. And you see the anger, the frustration,. It motivates me, and keeps driving me. Even after I get home and find out that obama has come up with a new way to screw over the country , or the state has made some policy statement that makes no sense. There has to be a turning point,. A point at which we collapse under our own weight and we start all over again.
Much like the recent developments in Climate Gate, and the emails, they have discovered, exposing the fraud of gore and a couple a dozen so called scientist.
The same thing will happen here with the economy,.. We now know how these crooks on Wall Street have been making billions of dollars, using Fiat paper money. Its going to fall apart and soon. The issue of monetizing our debt, is or should be criminal, and all those involved should be given, housing next to Bernie Madoff. It would appear that Bernie is secretly advising Geitner,Obama,and Bernanke.
Listen to Glenn he’s right. Buy an extra can of soup.
