“The power under the constitution will always be in the people. It is entrusted for certain defined purposes, and for a certain limited period, to representatives of their own choosing; and whenever it is executed contrary to their interest, or not agreeable to their wishes, their servants can and undoubtedly will, be recalled.”

~ George Washington (1787)

Friday, November 2, 2012

It's the Economy, Folks.

It's always the economy.

Democratic-controlled states throughout the country are experiencing financial difficulty and out-migration.

President Barack Obama’s home state of Illinois, for example, recently had its credit rating downgraded by Standard & Poor’s following a failed effort to reform the state’s massively underfunded pension system. The state’s credit rating is now among the worst in the country.

A new report from the State Budget Crisis Task Force led by former Federal Reserve Chairman Paul Volcker found that Illinois’s state budget “is not fiscally sustainable.”
Read the rest -- it's an indictment on socialism and its Keynesian economics.