Monday, October 1, 2012

State Pension Liability - The Next Bail Out

States have amassed as much as $25 Trillion dollars in pension liability for public employees, a lot of which they will not be able to pay.   This is particularly true in high tax blue states, like California and Illinois run by Socialists.   These states already have among the highest taxes in the country so raising taxes further to cover this pension liability is problematic at best.   So, the solution is requesting a federal government bail out.   If Socialist President Obama is reelected, you can bet that he will make a case for borrowing Trillions of dollars, added to our National Debt, to pay these pensions. 

Remember, Obama and his Socialist pals in government are owned lock, stock and barrel by public employee unions.  If there is any chance of default, these unions will expect Socialists in power to take care of them, even if it puts the United States into bankruptcy.  The US has lost our Triple A credit rating as a result of Obama's reckless spending, adding $6 Trillion to our National Debt, in just four years in office, more than any other President in American history.  Obama has no realistic plan to end his Trillions in annual deficit spending and pay off our National Debt. 

It is becoming clearer by the day, that Obama's Socialist Scheme is in fact to bankrupt our country to "transform" our nation into a Socialist, or perhaps even a Communist Country.   Obama is out to change the social order in our country and destroy free market capitalism.  Obama is a clear and present danger to our nation as bad as any external enemy we have ever faced. 

We are at a tipping point.   If the Socialist retain power in 2012 and 2014, we will see the end of limited Constitutional government in the United States.   We are actually fighting for our freedom in this election, which is the reason we must make Obama a one term President by electing Mitt Romney, the next President of the United States and gaining Republican control of both Houses of Congress.   This is the only way to restore respect for our country overseas, economic growth and job creation again in our country.

If Obama is reelected instead, we will see higher unemployment and poverty, a lower standard of living for all Americans and the bankruptcy of our nation.   If these things happen, there will be civil strife on our streets and the loss of our national sovereignty.   We can't let this happen.   We must take back our country in 2012 and 2014.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.  In the mean time, expect to hear Socialists say tax and spend states are too big to fail.  The bail outs of the state are coming as the next big Obama SwindleUS Plan.   Let us hope that there are sufficient Republican votes in Congress to stop this new Socialist Scheme. 

P.S.  To donate to Mitt Romney's campaign to make Obama a one term President, just go to and click on Donate.  Once on that page, look for the line that says, I know my Referrers Number, click on that box and type in 8544, the National Freedom Forum Referral Number to make our voices heard.   Give as much as you can to take back our country.

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