MOBILE USERS: m.isthmus.com
Connect with Isthmus on Twitter · Facebook · Flickr · Newsletters · Instagram 
Tuesday, September 30, 2014 |  Madison, WI: 44.0° F  Overcast
Collapse Photo Bar

Running into the brick wall of fiscal reality

If it's news, but not politics, then it goes here.

Running into the brick wall of fiscal reality

Postby kurt_w » Fri Jan 28, 2011 2:23 pm

Oops.

A Long Island tax cut backfires on the Tea Party

"When a Republican dies and goes to heaven it looks a lot like Nassau County" --Ronald Reagan

Nassau County, NY is phenomenally wealthy. It's also ultra-conservative. And in modern America, "conservative" means make big tax cuts but don't bother paying for them.

Also known as "borrow-and-spend".

In the 1990s, Republican control of the county government left Nassau County with massive debt. Eventually, the New York State government had to bail out the county -- to the tune of $100 million.

Why exactly should working-class citizens of less fabulously wealthy counties have to pay down the deficits run up by the Nassau County GOP? Interesting question indeed.

Anyway, part of the deal was that the county government would be kept on a short leash. No more deficits!

For a while, this seemed to be working. Nassau County elected a new (Democratic) administration that made various painful budget cuts and tax increases.

Fast-forward to 2009. Fed up with having to actually pay for their spending, Nassau voters replaced the dour fiscally-responsible Democrat with a radical Tea Party Republican who promised voters the moon -- deep tax cuts, with no offsetting cuts in spending.

Predictably, the debt rapidly started piling up.

Finally, this week, the State stepped in and took control of the county's finances from the irresponsible Tea Party munchkins.

This quote from the article pretty much sums it all up:

"A lot of people who got elected on this type of anti-tax platform are running into the brick wall of fiscal reality," said Matthew Gardner, executive director of the non-partisan Institute on Taxation and Economic Policy in Washington.

The moral of this story is left as an exercise for the reader.
kurt_w
Forum God/Goddess
 
Posts: 5122
Joined: Tue Jul 22, 2003 3:11 pm

Re: Running into the brick wall of fiscal reality

Postby snoqueen » Fri Jan 28, 2011 7:47 pm

Libertarian-heaven anti-tax Colorado Springs is running into the same brick wall. Google Colorado Springs budget crisis and read selectively.
snoqueen
Forum God/Goddess
 
Posts: 11538
Joined: Fri Feb 14, 2003 11:42 pm


Return to Headlines

Who is online

Users browsing this forum: No registered users and 3 guests

moviesmusiceats
Select a Movie
Select a Theater


commentsViewedForum
  ISTHMUS FLICKR

Promotions Contact us Privacy Policy Jobs Newsletters RSS
Collapse Photo Bar