Alert to Governors ~ no state bailouts coming~ ‘Pig is dead..no more bacon’ says Alan Simpson..

Sorry folks EVERYONE is going to get to pay the piper and feel the burn of this Obamaconomy. There is NO MORE MONEY to send to bail out the states, so you Governors better gird your loins and start laying off your union voters~

Bloomberg:

States can’t count on the federal government for more budget bailouts, the heads of President Barack Obama’s debt commission told governors.

States expecting Congress to authorize more assistance are “going to be left with a very large hole to fill,” said Erskine Bowles, co-chairman of the National Commission on Fiscal Responsibility and Reform. States including New York and California have urged Congress to extend stimulus spending authorized to combat the recession, including extra Medicaid funding and money to pay public school teachers.

“I don’t think we can count on the federal government again,” Bowles, White House chief of staff under former President Bill Clinton, said yesterday at the National Governors Association meeting in Boston. “They just do not have the financial resources.”

Former Republican Senator Alan Simpson of Wyoming, the panel’s other co-chairman, told governors yesterday that the depth of the federal government’s spending imbalance is “shocking,” which limits the help it can provide for strained state budgets.

…“The pig is dead,” said Simpson, referring to so-called pork-barrel spending that Congress directs to states. “There’s no more bacon.”…

…Earlier this year, 47 Republican and Democratic governors urged Congressional leaders to extend the Medicaid help, signing a letter asking for a six-month extension. Fewer are demanding a bailout now because the stimulus is unpopular, West Virginia Governor Joe Manchin said in an interview yesterday….

July 12, 2010. Tags: , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics.

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