What Madness?
7:53 pm in The Issues by Administrator
"The police are refused service at many gas stations because the City can't pay it's bills."
There is a overwhelming financial crisis in all levels of government in the USA and other countries and nobody seems prepared or concerned enough to do much about it.
If you want to get a sense of the urgency and seriousness of this matter, watch the CBS video below called "Day of Reckoning" It is truly disturbing. Chicago is known as a deadbeat city because it can't pay it's bills. Government employees in offices are being evicted because the city can't pay the rent. The police are refused service at many gas stations because the City can't pay it's bills. This is just one example of the calamity.
This crisis applies to virtually all US local and state governments. In addition, the U.S. debt is over $13.5 trillion, which is the sum of all outstanding debt owed by the Federal Government. Additionally, the annual operating deficit for 2011 is projected to be $1.26 trillion. Every year, the deficit is added to the debt, by the end of this year the debt will be almost $15 trillion.
The video below shows how dire the situation is with State and Local governments.
For a quick visual of how big the problem is go to http://www.wimp.com/budgetcuts/
CBS Video `Day of Reckoning`