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visible.frylock's Journal: Federal funds now #1 revenue source for state, local gov 3

Journal by visible.frylock

Federal cash is now the No. 1 revenue source for state and local governments, surpassing sales and property taxes, the government data show.

The flood of federal money lifted total revenues by 7.5%, overcoming an 8% drop in tax collections.

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Federal funds now #1 revenue source for state, local gov

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  • Further eroding state's rights and the effectiveness of more local and more personalized government.

    And I can't believe that people want a global least now, there are *some* differences in the states, and a larger set of differences with nations, meaning if you get really annoyed, you can move. With some global ain't moving anywhere "better".

    • Good point about strings.

      The thing that gets me is, states are unable to pay for a lot of things because they can't inflate currency like the feds. So, to the extent that this is being payed for, it's being done through destroying savings, encouraging malinvestment, and helping banks disproportionately, because they get their hands on new money first.

      • That state is using the same exact currency as all the other states, but has the advantage of a "people first" state run central bank. They aren't bankrupt, are running in the black, and the credit crisis hasn't impacted them to any major degree.

        It makes a rather large difference if the top banking and government policies are designed to enrich a few selected bankers, or everyone else. It's all in those policies and priorities. The Fed/government/Treasury priority is obviously designed to enrich a few thous

... though his invention worked superbly -- his theory was a crock of sewage from beginning to end. -- Vernor Vinge, "The Peace War"