As the United States continues to spend $1 billion a day in Iraq and Afghanistan, cities are selling off roads, bridges, zoos, and everything short of citizens to pay for their budgets. There are 44 states in dire financial shape — yet we continue to pour money into the occupation of Iraq where journalists show shoes at the President and the majority of people want us out.
Minnesota is selling us core properties to pay for a $5 billion deficit — the equivalent to five days of occupation costs for an oil rich nation. The state may hand over the state lottery and airport to private businesses.
Ohio has told Obama that it needs a $5 billion infusion over it will have to turn off the lights.
It would seem impossible for the federal government to bailout every major company and now every state. Who will bailout the federal government? Usually when there is no money, you stop spending money on discretionary things like occupations.
What is particularly galling is that this fire sale is going to once again enrich investors, including some who are beneficiaries of the prior bailouts. Valuable assets will now be handed over to private parties as a fraction of their value so politicians do not have to balance their budgets or make tough choices. This country quickly de-evolving into the type of third world country that continues to operate on debt until the World Bank forces internal reforms and the market ranks them with junk bonds. The difference is that these countries are not funding occupations while their governmental structure goes into anaerobic breakdown.
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