Thursday, April 01, 2010

Caribou Barbie Wins the Game

What ex Alaska governor left her state with the highest debt to GDP ratio of any other...I'll give you one guess but here is a hint. She preaches in speech after speech about the U.S. debt and against big government and wasteful government spending. Oh! And she's a big liar.

You Win! It's Sarah 'Show Me the Money' Palin who quit her job as governor leaving  Alaska with its debt equal to 70% of its GDP. So here is the deal. If you believe her BS about debt, wasteful spending and all the rest of her railing against the government then you are a fool and if you are a 'tea bagger' who thinks she is America's salvation you are even a bigger fool. She is a con artist of the first magnitude and in it only for the money.
New Hampshire and Colorado attempted to use program-specific pots of state money to plug holes in their general treasuries; Connecticut wrote its own accounting rules; Hawaii reduced the length of its school week; and California made its businesses pay their 2010 taxes earlier to make the budget appear more balanced than it is. But one thing every state is doing, including Alaska, is camouflaging its debts by not releasing how much its state employee pension funds will owe — or how far behind it is on its contributions to said pension funds.

Less than a year after then-Gov. Sarah Palin (R-Alaska) quit the government to pursue other projects, Alaska leads the way in its debt-to-GDP ratio when its unfunded pension obligations are taken into account, followed by Rhode Island, New Mexico, Ohio and Mississippi. And although Alaska’s ratio is far lower than Greece’s, it does give the state a debt-to-GDP ratio similar to that of Jordan and Palin’s favorite health care resource, Canada, and a higher ratio than Ghana, Cote d’Ivoire, India, the Philippines or Uruguay.

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