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The states – including Maharashtra, home to the country’s financial capital Mumbai, India’s most populated state Uttar Pradesh and Prime Minister Modi’s home state of Gujarat – are estimating expenditure to have risen 21.5% in 2022-23, and plan to increase it further by 11% in 2023-24. ....
With just about every state facing a deficit this year, they re looking for ways to handle one of the largest costs they have. pension benefits. the bitter battle means raising taxes or slashing benefits. msnbc s richard lui joins us. of course, neither of those a alternatives sounds very good. they are not appetizing. good morning to you. 31 states are not making the pension grade. according to the pew center on states, that puts millions of hardworking americans in danger of not getting their pension checks in their golden years. now, here s the problem. on average, states are only putting in 78% of pension plan costs. and in some states, and i ll highlight a couple for you, it is worse. illinois barely put in 51% of what was required. the best, new york at 101% because of law requiring all costs be paid up front in that state. now, the reasons that 31 states got into this squeeze, first, state budget shortfalls have caused subpar deposits for ....
Billion shortfall in 2011. certainly, we re not going to see any fiscal aid coming from the federal government, to help out the states. so, they re going to look at union contracts. it s the culmination of a very long demonization campaign against public employees and particularly public employee unions, over the last several years. and, you know, the politics, i think republicans feel are with them, if they want to try to restructure these contracts. so, when we look at august these state and municipal shortfalls for the budgets, how responsible are unions for the budget problems? you know, it s hard to say. the biggest driver of state budget shortfalls, without question, is the great recession, and the declining tax revenues that come from massive unemployment. if you want to blame state workers who are doing their job for the fact that there s 12%, 13% unemployment in some states, i don t know how far that gets ....
front line. can i interrupt you there? when i look at that and i understand that and i see the massive extraction perpetrated against our country by the banks that caused the need for what you guys call the stimulus act, i call it the cover-up act. and all the state budget shortfalls as a result of the bank scam. and then you tell me you re creating jobs. when what you re really doing is using our tax money to fill in the hole to keep police and hospitals operating that would otherwise be put out of business because of what the banks did. but quite honestly, i feel we re completely off-topic. don t get me in the position of defending the banks or wall street. that s not my position, by the way. if you re defending the stimulus. anyway i am defending the stimulus, that i am doing. the stimulus to me is a cover-up for what the banks did. so by definition of defending the stimulus what would have been the result if weç didn t have the recovery package. 5,000 less polic ....