Really? I think there are still many people who think/talk/worried about economy. Fed. deficit does not have too much impact on the US economy directly, it is the state deficit will have a lot of negative impact.
I think people in most of states will see their property bill increases anywhere from 5-15% because states have to cut the school aid;
those who have children, will see their tuition bill increases another 10% if not more;
all kinds of license fee, car registration, driver's license, hunting, fishing license, will increased too, and at the same time a lot of services will be cut;
at least 15-20 states already pledged to increase their state income tax; and thousands of state employees and teachers are going to be laid off, if they are not already;
most of state employees, not only have not had a pay increase for the last 1-2 years, they won't see one in another year or two, and when they do see one, maybe only 1-2% at most;
people will see their health insurance keep moving up in double digits rate, and more and more working people will have to go without them;
a lot of state employees, who have not had to contribute anything out of their own pocket for health insurance and retirement, now have to pay 5% or even 10% of their pay for those;
the list can go on and on. And all these mean less money will be spent on other things. And they are going to have a huge impact on the consumer spending. |
