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The Day of Reckoning


IceStone
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http://abcnews.go.com/Business/Economy/story?id=8016634&page=1

according to abc news, this is a list of the states in the worst financial trouble. I wonder if they have any attributes in common

California

Arizona

Nevada

Illinois

New York

Alaska

New Jersey

Oregon

Vermont

Washington

Connecticut

Large populations come to mind first. What were you hinting at?
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Large populations come to mind first. What were you hinting at?

actually half of them are in the bottom 50% of the states in terms of population. obviously one thing they have in common is spending far more than they take in but that is pretty obvious.

I am not hinting at anything. It seems logical to me that if there is a common threads that goes back 10+ years that it might give us some answers

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Clearly one of the things they pointed at in the peace were Government or Union workers and their benefit packages. All of those states except for Arizona have amongst the highest percentage of Union membership. I believe they said that New Jersey had 50+ Billion in unfunded pensions. At least when a Union is dealing with a private company they realize that they can only push that company so far before it just doesn't become profitable for them to stay open, so this somewhat keeps the Unions in check, but Unions seem to view government as an endless supply of wealth they can constantly tap.

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