Friday, April 13, 2012

Who is to blame for budget failure

It's not a question. Both sides are to blame for the 2012 General Assembly blowing up last night.

The rush to pass a general fund budget with too much debt and no solutions to our short, intermediate or long term problems in order for legislators to go back to their districts congratulating themselves on all the bipartisanship and compromise now means nothing to anyone.

Well, there is someone who comes out ahead in this ordeal: the tea party.

We have been telling anyone who would listen that the problem lies with both Democrats and Republicans and here it is again for everyone to see.

Do they not realize what will happen in three years when the state pension funds start to need $600 million a year just to pay their bills? We aren't the only state to destroy our finances by using public employee pension money as a slush fund for vote buying. We are just among the worst.

In any event, those expecting a federal bailout for Kentucky Retirement Systems are certain to be sorely disappointed. When that time comes, remember that the ensuing chaos was created by a lot of polticians on both sides. The great shame is that none of them in a position to do so put a stop to this before it was too late.