State Budgets: Day of Reckoning

[@JusdoinstuF]

was there a follow up to this, if not, 60 minutes should definitely do one. There work is very interesting.

[@JusdoinstuF]

This was some great reporting, i wish it was longer, went into more detail of where the current money is going, what steps have been taken to improve the situation. and please do a follow up.

[@laurentdrozin812]

The fact that this has under 100k views says a lot about the sorry state of the US

[@blaaket123]

States are in trouble b/c they don't know how to manage their budgets. I live in STL and it took almost a whole summer to complete sidewalk project. How poor is that? I see the truck and the people come by everyday and they do about 5 minutes worth of work thn they leave. I saw one site where they left it dormant for the year. Great Job

[@BriansVideoHobby]

@zarni000 Bartlett never said the navy didn’t order the banner or that it wasn't to congratulate the ship. He was taking blame for approving it to be there which, was a mistake, because it was confusing. I watched the coverage in full as it unfolded and the news anchors talked about the banner and its purpose at length. I'm searching for original unedited video now as proof. However, even without video, the facts are clear and they have never changed.

[@Jeffrey-s6g]

What's sad is we never learned our lessons. We are repeating the same damn thing again!

[@zarni000]

@BriansVideoHobby Bush reiterated a "Mission Accomplished" message to the troops at Camp As Sayliyah on June 5, 2003 - about a month after the aircraft carrier incident: "America sent you on a mission to remove a grave threat and to liberate an oppressed people, and that mission has been accomplished."[12]

[@garybsg]

@BriansVideoHobby oops it was National Review Online not American Thinker

[@BriansVideoHobby]

@zarni000 I would absolutely cut military spending and reduce both war efforts to a special forces hunt for Bin Laden. I would also begin asking those European countries you admire so much to start carrying their part of the burden we endure to keep them safe. It's a lot easier to balance a budget when you completely rely on others to pay or your security. They were stomped by the Nazis and would all have fallen to the former USSR if we hadn't shielded them.

[@BriansVideoHobby]

@zarni000 Rumsfield is on record saying he REMOVED mission accomplished from the a draft of the speech further proving that it was never said. They also removed a lot of other things that the speech writers shouldn't have put in there like "the guns are silent". So what? Speech writers don't state policy and they were wrong. Rumsfield was saying the banner should have been removed NOT that they chose to put it there.

[@garybsg]

@DillonDee1 Another point. Last year my wife and I had a one bump in our income. We paid 35% Fed rate and we live in California we another 10% state tax. We also hit Alternative Minimum Tax which we lost all our deductions(the whole purpose of AMT). Our net effective rate last year 42.8%. I know I wrote the check to the IRS. This does not include property taxes, sales taxes, local taxes, city taxes, assessed county taxes, license taxes and on. You don't know what your are talking about.

[@zarni000]

When he received an advance copy of the speech, U.S. Defense Secretary Donald Rumsfeld took care to remove any use of the phrase "Mission Accomplished" in the speech itself. Later, when journalist Bob Woodward asked him about his changes to the speech, Rumsfeld responded: "I was in Baghdad, and I was given a draft of that thing to look at. And I just died, and I said my God, it's too conclusive. And I fixed it and sent it back… they fixed the speech, but not the sign."

[@jsnpresley]

@MrJustTruth My friend this problem is far beyond the voting process

[@Recumbent70757]

This is going to be ugly...PEOPLE NEED TO FACE REALITY

[@zarni000]

@BriansVideoHobby Clinton did better than Dubbya at least. Technically it was not really clinton that gave us the bubble - it was Greenspan. The Fed is pretty independent when it comes to monetary policy. As far as deregulation is concerned that happened mostly during Bush. That's who we owe the BP disaster too as well because they felt that sparing anothe few bucks to ensure there are failsafes would be too much of a dent in their grossly inflated bonuses. 9/11 was staged like pearl harbor.

[@FloridaRaider]

part of this thanks goes to NAFTA

[@zarni000]

@WesSeid Fine. so why do you find it necessary to point it out. Where did i disagree with that?

[@BriansVideoHobby]

@zarni000 Actually, there were fail-safes on the BP rig. I haven't seen anything anywhere saying they violated regulations. You have to remember that they don't want to drill that deep, they are forced to by environmental regulations. If they had drilled where they wanted to drill, they could have quickly and easily capped the well.

[@TommyD2ful]

We need all the good teachers we can get

[@WesSeid]

@DillonDee1 That 700 billion dollar figure tossed around is over a period of 10 years. The Democratic-majority Congress voted yes to spend that much in a bill they didn't even read.

[@BriansVideoHobby]

@DillonDee1 That's simply not true. You are talking about investment profit. Investments are risks that create jobs. Buffett doesn't include losses of principle in his calculations.

[@zarni000]

@BlackThought415 you are partly right. however, it is not the central bank that owns anything. the central bank is just a shell of an organization that poses as legitimate government institution which is owned by private capital. The government is not directly owned by these same private interests but is steered (bribed) in the direction they want them to go. Big government is also in these people's interest as they can more easily further their ends using this apparatus funded by the taxpayer.

[@Recumbent70757]

@zarni000 A good example is The Project Gutenberg E book of Fiat Money in France by Andrew Dickson White written in 1912 about the Monetary inflation which led to the French Revolution

[@BriansVideoHobby]

@DillonDee1 The carrier that Bush landed on had finished its tour and was returning to port. They had accomplished their mission so the officers hung a banner that said “mission accomplished”. It had nothing to do with Bush’s speech.

[@garybsg]

The top 10 percent (with incomes above $113,799) earned 45.8 percent of AGI and paid 69.9 percent of federal income taxes.

[@zarni000]

@BriansVideoHobby Who said it was ever said?? I don't recall saying that... focus....this is getting a little boring having to point out basic things like this to you....

[@zarni000]

@BriansVideoHobby perhaps you are right about that. but if you look at federal government republicans don't have a better track record of balancing budgets than dems. If we disregard Obama who was handed a rotten hand we can see Clinton - balanced budget, then Dubbya & Reagan higher budget deficits than next highest - LBJ.... And also historically - under democrats stock market performs better than under republicans. that is a fact. All that being said I don't think they are that much bette

[@the_expidition427]

Simply balance the budget

[@BriansVideoHobby]

@zarni000 I'm the only one telling the truth here. The navy ordered the banner because they had accomplished their mission. The Whitehouse approved it, made it, and hung it for them. The meaning was well known and discussed before the speech. Bush did NOT say mission accomplished and DID say the opposite. Those are the facts. You just don't seek the truth. The important fact would be that Bush was wrong in what he ACTUALLY said, not continuing to perpetuate your lie.

[@BriansVideoHobby]

@zarni000 Being that I seem to be the only one on here that is aware that the banner was not his, the speech was not the "mission accomplished" speech, and not only did he not say "mission accomplished" but said the opposite, I may be the only one who isn't brainwashed.

[@BriansVideoHobby]

@zarni000 "In the course of his labors, Sforza became quite taken with the crew. When they mentioned to the White House aide that they would like to emblazon the stage with a banner reading MISSION ACCOMPLISHED so as to send up a victorious signal to their families and Navy buddies, Sforza loved the spirit of it and was effusive in his pitch to Fleischer, Bartlett, and the others."

[@Epica124]

@FloridaRaider No just no. The problem is and will always be the Government spending money they do not have. If you have 300,000 dollars to buy a house and someone says why don't you buy that 400,000 dollars here is what you do. You say no and buy the 100,000 dolloar house. Sure it may not be what you want but it is called spending with in you're means. It's time to stop spending money we don't have.

[@garybsg]

@DillonDee1 My figures are from the IRS where are you figures from?

[@BriansVideoHobby]

@zarni000 @zarni000 The budget short falls had NOTHING to do with the collapse. Our total debt under Bush is a small fraction of what we lost when the sub-prime ponzi scheme collapsed and as a percentage of GDP, was well within global norms. There is only one answer to our current budget problem, massive spending cuts. Increasing taxes on what is mostly small business owners and mostly COMBINED income over $250,000 will, without any doubt, do more harm to the economy.

[@zarni000]

@dmhappy2777 sorry to break it to you but they can still take it. real estate comes from the spanish word "real" or royal in english and not the english word "real". this means owned by the king. that is still the case it was before. the government owns all land and that is why you pay taxes on it and it can be sequestered by the government.

[@zarni000]

@BriansVideoHobby secondly, you are wrong about deregulation in general happening under Clinton. apart from pushing for housing market deregulation in an effort to increase home ownership most other deregulation was sponsored by republicans and the rest was championed by Bush. Especially notable is the energy industry deregulation which we can thank Cheney for and the ensuing disaster in the gulf.

[@notpcone]

EASY SOLUTION.......................REMOVE ALL POLITICIANS AND THEIR RIDICULOUS SALARIES.

[@mrpatience2007]

quite ironic i think, people get what they deserve when they spend wrecklessly. The humorous part is... most people don't know how to survive if they had to,... however some of us can.

[@BriansVideoHobby]

@DillonDee1 Ah, the big myth. Rich people make you poor. Please explain, when there is theoretically an infinite amount of wealth, how one person earning more makes another earn less. So, if I grow 5 tomatoes somehow you are being forced to grow only one? I don’t get it.

[@BriansVideoHobby]

@ScrantonTeaParty YES! Exactly! And next we need to unite to NOT bail them out. The motto needs to be "go get it from the unions"!

[@fiatalfa1]

Watch 60 min. huge crash coming vid done in 08 about the housing crash(which is not even close to being over) Also, Peter Schiff mortgage bankers speech in 06 where he tells over 2000 real estate bankers what's going to happen and why. Buy silver or gold if you can.

[@garybsg]

@DillonDee1 1. As of 2010 Federal tax data, the top 10% pay 71% of all taxes. Their average effective rate was 42%. The bottom 50% paid 3% and their effective rate was 0%. The percentage of wealth is none of your business. If two men earn the exact same and one man saves and invest all his life and the other drinks his paycheck away. One man will have 5 or 10 times the wealth. So what? A heart surgeon who spent 15 years in school will earn more then a janitor. Should all be equal comrade :)

[@mr.rochester1857]

These teachers think they’re indispensable😂online schools will leave them jobless.

[@zarni000]

@BriansVideoHobby well you should listen to something other than just Foxnews.. "It was not his mistake, however, according to CBS News political analyst Dan Bartlett, a former senior advisor to Mr. Bush. Asked this morning by Harry Smith, co-anchor of CBS' The Early Show, who was responsible for the banner - Smith pointed out that both the Navy and former White House Press Secretary Scott McClellan have taken the blame in the past - Bartlett said that it was actually his call."

[@WesSeid]

@zarni000 You said, "And taxing people over 250k will do more good than harm. What are they going to spend it on?...let's see yachts, country club memberships, vacations to Bahamas, golf etc....yeah that definitely creates jobs in america..." So, it's true, you did not say it does not create jobs, but I was picking up on some sarcasm there. And you said taxing them will do more good than harm, while now saying "preferential taxing of rich - bad." Yet you want to blame me for lack of focus?

[@BriansVideoHobby]

@zarni000 I don't need to live somewhere to understand that freedom is always preferred to torture, murder, imprisonment, fear, and oppression. I find it odd that fools have been crying "war for oil" since day one and here we are many years later with no oil contracts. We didn't take their oil, we didn't corrupt their bidding system, we didn't benefit from the oil. Get it?

[@FrankyDaFreak]

All we have to do, is quite spending. Its that simple..

[@garybsg]

@DillonDee1 Absolute nonsense. Thomas Jefferson was deeply influenced by John Locke and Jefferson has said that the Second Treatise was the most influential document in his philosophy. It you ever read the Second Treatise, which you have not, it is profoundly clear that each individual has absolute right to his property. The essence is "Man has an UNALIENABLE right to his life, liberty and property. Wealth is created by man's work, talent, effort thus his property is part of his right to life

[@dopeskies604]

125million dollars a day for Afghanistan doesn't help either

[@garybsg]

@BriansVideoHobby the top 1 percent of taxpayers (who made more than $380,354 apiece) earned 20 percent of America’s Adjusted Gross Income (AGI) in 2008, according to IRS data analyzed by the Tax Foundation. True. They also paid 38 percent of all federal income taxes. The top 5 percent (with incomes exceeding $159,619) earned 34.7 percent of AGI and paid 58.7 percent of taxes.

[@zarni000]

@BriansVideoHobby He did not veto that legislation that is true. But all those bills came from a republican-led house and senate. The only legislation that was really spearheaded by Clinton out of the ones you listed was the subprime but It is arguable that they did not know what the ramifications would be. The bottom line is there was a big push to increase home-ownership - it backfired. Bush on the other backed only legislation favoring the rich.

[@Usactionnews]

We’ve been warning of this looming fiscal catastrophe for months. City and state pension deficits alone total over $3.5 TRILLION! Read more at our site - if you dare.

[@peternorthrup6274]

Raise taxes. What's the problem. See how long you stay elected. Go ahead keep paying all those retired people.

[@WesSeid]

@zarni000 Someone had a job to build that yacht. Someone had a job to work at that country club. How is that money different than the "stimulus" money that was spent on stupid crap just for the sake of spending money?

[@BriansVideoHobby]

@zarni000 Yes, and he was wrong. That doesn't change the facts.

[@NeoRocket001]

@sweettina2 You nailed it.

[@DanTuber]

12 months left before the shit hits the fan.

[@WesSeid]

@zarni000 "You need to educate yourself." Yeah, yeah. That still doesn't answer my question. How is a rich guy spending his money to buy a yacht, that had to be built by employed workers, different from the government taking that rich person's money and spending it on "stimulus" jobs -- other than that now there's a middle man? How does a rich guy spending his money on yachts and country clubs and things not create jobs?

[@WesSeid]

@zarni000 I pointed it out for the people reading because, LIKE I SAID, a lot of people who despise Bush or Republicans for things like bank bailouts and The Patriot Act often give Democrats a pass on it, as well as apparently don't know that Democrats often even voted more for that stuff than Republicans did. And you said Bush signed TARP, but from what I can see via KZbin's awful new comments system, you didn't mention who the main ones in Congress are who voted yes to pass it - Dems.

[@zarni000]

@BriansVideoHobby LOL...wow you are a neverending source of entertainment: When journalist Bob Woodward asked him about his changes to the speech, Rumsfeld responded: "I was in Baghdad, and I was given a draft of that thing to look at. And I just died, and I said my God, it's too conclusive. And I fixed it and sent it back… they fixed the speech, but not the sign."[11]

[@deedetres703]

ten years later "Biden signs debt ceiling increase to avoid US default" - Most arrogant generation thought - "it wont happen in my lifetime" - that was optimistic!

[@deedetres703]

Fed will end up buying state bonds - just to default. looking bad boomers PLUS we went to war for no reason - Bush said it was a "mistake" years after the fact - Did anyone during this timeframe besides Nader and Ron Paul actually care about this country??? I wonder.

[@BriansVideoHobby]

@zarni000 Why are you so willingly deceitful? The banner was made by the white house at the request of the ship because they were unable to produce it. It had nothing to do with the speech. The speech was not titled "mission accomplished", he never said "mission accomplished" and, in fact, said the opposite. Those are the facts. He later told a group of soldiers that THEY had accomplished their mission in AFGHANISTAN and they had.

[@zarni000]

@WesSeid You need to educate yourself about economics and put things into perspective. An economy of huge disparities is the model found in south america...we are moving in that direction where the select few can afford yachts and the majority cannot afford basic necessities like healthcare and food.

[@BriansVideoHobby]

@zarni000 What? Wait...I thought he escaped on the UFO from area 59?!?

[@mikeluvrs]

10 years later nothing has changed

[@2plus2make4]

@RocRizzo Playing devils advocate: I think pretty much all taxes are paid by the rich - for the practical reason that little can be raised from the poor. Also is there an issue with the mobility of capital and competition - states all around the world compete for funds. Unusually high taxes on the rich in a state make it difficult to attract funds. Some places are booming right now and attracting huge capital inflows. This makes me think that it is more complex than just hitting up the rich

[@zarni000]

@BriansVideoHobby my comment to you is already at top rating. good to see most people see the light...

[@zarni000]

@BriansVideoHobby i've found that people calling others opinions "bull" are usually the ignorant ones. Perhaps you have not thought that reducing taxes on the rich like Bush did would effectively create a budget shortfall and cause the treasury to issue more debt - essentially forcing the rest of tax payers to pay for this. It is pretty simple - if you cut taxes on the rich the poor and middle class have to pay for it.

[@zarni000]

@Boeing727223 erm yeah...like the private sector made better decisions...it's not BIg Government that's the issue. it's the damn central bank manipulating rates artificially.

[@lizardgizard2002]

Is everyone commenting on this video a victim of the fear mongers? Whether you know it or not or believe it or not, debt is saving the US and states from collapse. The important thing to do is that as the situation improves to then begin cutting back on spending and tax those who accumulate wealth but give little back.

[@zarni000]

@BriansVideoHobby Alright Bartlett is making things up...gimme a break. They let the navy take the blame initially. 5 years later they finally fessed up to it and Dubbya still had an aid take responsibility for it.....please

[@zarni000]

@WesSeid By that I mean taxing the rich with preferential treatment....sorry again if you can't understand things.

[@zarni000]

@dmhappy2777 paying your debts off? are you nuts. that is one of the worst things you could do. the dollar is going to go down to near 0 in the next years...

[@BriansVideoHobby]

@zarni000 Which, once again, had nothing at all to do with the collapse.

[@jamescoughlin6911]

Bridge Gate!

[@BriansVideoHobby]

@zarni000 CAUGHT YOU LIEING AGAIN: "Quite frankly, yours truly was the guy who actually signed off" on posting the banner, Bartlett said, after people on the aircraft carrier approached the White House with the idea. "I regret it to this day, because it did send the wrong message."

[@MabusZero]

"The State is a dead-beat..." Murray Rothbard must be chortling in his grave at that one...

[@WesSeid]

@zarni000 "taxing people over 250k will do more good than harm. What are they going to spend it on?" and "Preferential taxing of rich - bad." ...so taxing people over 250k will do good, but preferential taxing of the rich is bad. ...yeah, those two things sound exactly the same and not at all like opposites... Hey, look at that, now I'm using sarcasm, too! Fun!

[@BriansVideoHobby]

@zarni000 Your last statement betrays your ignorance or willful deceit. Bush never said mission accomplished. In the words of one of your great leaders, “I promise a new transparency” and “we have to pass the bill to see what’s in the bill”.

[@BriansVideoHobby]

@zarni000 How stupid. In your deceitful reference, he was talking to troops in AFGHANISTAN about the AFGHANISTAN war. That has nothing to do with his “end of major combat” speech on a carrier returning from IRAQ about the IRAQ war.

[@zarni000]

@WesSeid I was saying it sarcastically. of course it creates jobs but what kind of jobs does it create? ask yourself that. Are they jobs that support a community, are they sustainable jobs in this climate when the average person is struggling to make ends meet and the average household in america owes roughly over 60k.... It is quite obvious what I meant. In any case, this will be my last response to you as I have gotten tired of explaining basics. Used to be entertaining but this is boring.

[@zarni000]

@BriansVideoHobby You proved how well informed you are though..... reciting lines from the white house from 2003...since then they admitted responsibility....

[@BriansVideoHobby]

@zarni000 Do liberals spend their whole day making things up or do they just repeat what others have made up? "The World Health Organization, the directing and coordinating authority for health within the United Nations, states that no risk of reproductive, developmental, or carcinogenic effects have been reported in humans due to DU exposure." "Poll: 60% of Iraqis want U.S. troops to stay" 08/12/2010

[@BriansVideoHobby]

@zarni000 First, you are dead wrong about Arizona. Their debt was run up under Janet Napolitano (2003 - 2009). Second, I agree that Republicans are just as bad. I didn't say anything about Democrats or Republicans. States that are dominated by conservatives are by far in a better financial state than those dominated by Liberals. Look at the states in the most trouble and here's what you'll find: Large entitlement programs, high taxes, and strong union support. Those are the facts.

[@zarni000]

@BriansVideoHobby oh and one more thing "In the Battle of Iraq, the United States and our allies have prevailed."[10] - "Mission Accomplished" speech - Dubbya

[@josepyGDB]

@BriansVideoHobby No, but if you own 5/6th of the land then I can only use 1/6 for my tomato farming...that was part of the equation you left out when referring to this bogus infinite wealth myth you are so prescribed to. No such thing as infinite wealth, currency maybe, but not wealth.

[@tyler496121]

Thats unions for you, they dont look at the big picture they just look out for themselves.

[@zarni000]

@hucklebearer53 you can only print as much as the Chinese will let you print :)

[@lizardgizard2002]

@ScrantonTeaParty LOL Crazy is not the word. I could think of better words.

[@konshoff]

@paper000000 socialism and corruption

[@zarni000]

@BriansVideoHobby oh you think that liberals were the only ones who do this? think again. Arizona has been under mostly republican governorship. The only difference between democrats and republicans is republicans borrow like there's no tomorrow and democrats tax. Frankly if you look at it who is more responsible of the two alternatives and who brought us to this mess? Saying cutting taxes is the best way forward especially at this juncture is demagoguery.

[@garybsg]

@DillonDee1 For once I wish your were right but sadly I am being audited. I leave with this from an article out today on "American Thinker" online mag. Go check it out. I will put the quote from the magazine. It will give you a different perspective on the rich and I would assume you are open to different points of views. I'll put it in the next message. Have a good one

[@zarni000]

@BlackThought415 alight i fail to understand why you are directing this piece of obviousness towards me...

[@MarkADaley]

It's obviously "Bush's fault." Canned answer from you know who....

[@zarni000]

@ScrantonTeaParty err. no you are crazy but that is only thing you got right :) but this is not hard to find out really ...where were you when Bush did the country in with the massive spending on Iraq and got the TARP bill passed just before he bailed???

[@garybsg]

@DillonDee1 Well you figured it out why did I ever take my finances to a CPA/Tax attorney since you can punch in a few numbers on the internet and understand my whole trust fund, sales transactions and business obligations. In fact, it is so easy that we got an audit scheduled for June with the IRS. Wow I should have gone to you. Why we don't have a massive complicated tax law that takes attorneys and CPA specializing in tax code, no no. Just punch a few numbers in and there you go. Fool.

[@garybsg]

@DillonDee1 being audited for my income level. After a lifetime of hard work, frugality and disciplined investing, we are doing well. No one gave us anything. People are eager to redistribute my wealth but not redistribute my risk, my sweat and work. Our wealth(and all wealth) is an outcome. All outcomes have causes. Our values of hard work, discipline, planning is a cause. To just look at the wealth without looking at the work, the risk and downright suffering to create wealth is unfair.

[@zarni000]

@dmhappy2777 not saying it's generally bad not to owe anything. but assuming you are on a fixed rate and if you are expecting inflation why in god's name would you want to pay off a loan. i have fixed loans and am trying to pay off as little as possible although I can pay off the whole thing now. land and real estate will fare much better than the dollar so I view it as a hedge. paying off your loans against realestate is like betting on the dollar appreciating...

[@zarni000]

@jonah70757 I think you give people too much credit. We are sheep - at least the majority. There are only few that will ever face the truth and know it for what it is. I will spare you all the examples of this both foreign and domestic, contemporary and hitorical.

[@BriansVideoHobby]

@DillonDee1 They aren't "getting more". To understand tax breaks work you should view: /watch?v=Xj7nRc3_EG0 or just search "Bar Stool Economics and How Taxes Work ". The whole "tax breaks for the rich" argument is a myth.