A Third California City Goes Bankrupt, Another Promised Land Brought to Its Knees


Welcome to Jerry Brown country. The left tries to blame Geo Bush and his wars for the financial problems of the nation but how many of the troubled States and cities went to war? And why do all of these cities and States seem to have the same or similar reasons for not being able to pay their bills? Grandpa always said that if you want to solve a problem you must address the cause of that problem. Is this further evidence of a socialistic program gone wrong? When will we, the people, realize that there is no such thing as a free lunch? And when will politicians learn that government does not have unlimited resources to pay for their promises?
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“San Bernardino, California, filed for municipal bankruptcy after disclosing a $46 million shortfall in the city’s budget, the third California city to seek court protection from creditors since June 28.

California cities from the Mexican border to San Francisco Bay are confronting rising pension costs as they contend with growing unemployment and declining property- and sales-tax revenue. The costs stem from decisions made when stock markets were soaring and retirement funds were running surpluses.”
San Bernardino is Bankrupt
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UPDATE:
IRS Is Missing Billions
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Here is some more bad news about how the government spends your hard-earned dollars. And Obama wants to raise taxes and spend more of it? Not only that, remember, the IRS will be in charge of Obamacare too. You still trust the government spend your money better than you can?
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” The Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011, Treasury Department investigators said Thursday. They estimate another $21 billion could make its way to ID thieves’ pockets over the next five years.

The IRS is detecting far fewer fraudulent tax refund claims than actually occur, according to a government audit that warned the widespread problem could undermine public trust in the U.S. tax system. Although the IRS detected about 940,000 fraudulent returns for last year claiming $6.5 billion in refunds, there were potentially another 1.5 million undetected cases of thieves seeking refunds after assuming the identity of a dead person, child or someone else who normally wouldn’t file a tax return.

In one example, investigators found a single address in Lansing, Mich., that was used to file 2,137 separate tax returns. The IRS issued more than $3.3 million in refunds to that address. Three addresses in Florida, the epicenter of the identity theft crisis, filed more than 500 returns totaling more than $1 million in refunds for each address.”
IRS is helping to bankrupt this nation

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Categories: Politics | Tags: , , , , | 5 Comments

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5 thoughts on “A Third California City Goes Bankrupt, Another Promised Land Brought to Its Knees

  1. JD

    Let’s not forget their generous social programs for the illegals. Hmmm, seems like they don’t have the money to fund those.

  2. The Griper

    yup, that is a part of the whole, JD

  3. JD

    Check these out, too funny, just click on each one to read message

    http://www.baracksbirthdaycards.com/

  4. The Griper

    he chuckles, thanks for making the day a little humorous, Jane

  5. Here are some good quotes from Milton Friedman:

    “If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.”

    “Nothing is so permanent as a temporary government program.”

    “The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.”

    “The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.”

    “The most important single central fact about a free market is that no exchange takes place unless both parties benefit.”

    “Underlying most arguments against the free market is a lack of belief in freedom itself.”

    “We have a system that increasingly taxes work and subsidizes nonwork.”

    Milton Friedman, Economist (1912-2006)

Be respecful or your comment will be deleted. Also know that Alinsky tactics do not phase me

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