Thursday, January 15, 2009

Kentucky can't go bankrupt

States are legally prohibited from declaring bankruptcy. That means if we don't get serious about borrowing less money and running entitlement programs more prudently and stopping the raiding of public employee fringe benefits accounts, some people may just be out of luck.

Some future politicians may have little choice but to stop making payments on state obligations. The way we are headed, that is not such a far-fetched idea. Ask California.

After decades of wild state spending, nothing is going to change until someone steps up and forces change. That's why I gladly support the Kentucky Club for Growth.

The Club today is raising awareness of the state employee pension disaster that could literally destroy our state by making it impossible to run any kind of government at all. (And some of their sources are excellent!) As pension and healthcare obligations increase, the money we have raided from those systems will have to be paid back out of other pools of money.

The Club is set up specifically to support candidates for office who will pursue responsible government spending practices. The big spenders opposed by The Club like to criticize small-government types as "hating" government, but keeping spending reasonable will never destroy government. Only the enduring insanity of the status quo will do that.