Some time back Sarah Palin, the person the liberals refer to as stupid and crazy, stated that states would get in over their heads by accepting the unemployment extension help from the government. She said the states would simply add to their debt - debt they would not be able to repay.
It was announced today that Obama plans to ask Congress for yet another bailout - to the states who cannot repay what they owe for all those extensions. You know, the extensions the Republicans opposed unless Congress had a way to pay for them.
Rising unemployment has placed such a burden on states that 30 of them owe the federal government $42 billion in money borrowed to meet their unemployment insurance obligations. Three states already have had to raise taxes to begin paying back the money they owe. More than 20 other states likely would have to raise taxes to cover their unemployment insurance debts. Under federal law, such tax increases are automatic once the money owed reaches a certain level.
Apparently, the Obama/Pelosi/Reid plan of bailing people out has only resulted in more bailouts. And that is precisely what Palin had warned.
Perhaps she is not quite as "stupid" as some on the left seem to want us to believe.
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