Why should taxpayers bail out spendthrift Legislature and governor?
Imagine a family – we’ll call them the Smiths – who are financially successful beyond the dreams of most Americans.
They have all the trappings of wealth – a large custom home with a pool and a wine cellar; a ski chalet in the mountains and home at the beach; two expensive cars in the garage; membership at a private golf course; designer clothes; annual exotic vacations; all the latest toys and gadgets for their children – the list goes on.
Now imagine the Smiths have hit tough financial times – but not because of job losses or failing health; in fact both Smiths have received substantial pay raises and bonuses in the past five year.
No, their financial woes stem from overspending and poor planning. For every dollar they’ve earned, a $1.10 was spent.
The most likely means to eliminating their debt and building a savings is through selling off assets and cutting back on vacations, designer clothes and golf.
But the Smiths will have none of that. Instead they ask for their friends to bail them out. Of course, their friends are outraged. After all, the friends have acted responsibly by living within their means and putting… Read More