As the Teachers' Protests continue in Wisconsin, the Tea Partiers march into Madison. So far, Governor Scott Walker has dug in his Heels and Democratic Legislators in Wisconsin have taken 'Refuge' out of State; thus, by depriving the State Legislature of a Quorum, they have, in Effect, dug in their Heels too, Toe to Toe with the Governor. Some Observers have gone so far as to proclaim Madison the Epicentre of the Financial Crises sweeping, some say, as many as 45 out of 50 States.
The Issues, however, may be too systemic to merit a simple Explanation. On the Side of the Governor, is not only the Argument that the Wisconsin State Budget needs to be balanced but that generous Teacher (and other Public Sector) Salaries and Benefits, not only in Wisconsin but elsewhere as well, have corrupted the Meaning of the Phrase 'Public Servants' so much more so when taking into Account inadequate Public Education Test Scores (see Justice Souter's Comments elsewhere in this Forum). This, at a Time when those who earn their Living in the Private Sector are having to make do on comparatively less, or much less or nothing at all.
In this Case, however, it may be helpful to take a Look at New York City, the Financial Epicentre of the United States and the World, where the Problem may be into somewhat clearer Focus.
5000 Teachers in New York City are not only in Danger of losing their generous Salaries and Benefits but their Jobs altogether. New York City is just flat out of Money and its Revenue Outlook is bleak. The Inequity comes more sharply into Focus there, when paragonating the Situation against the obscene Bonus Earnings continuing to be paid to various Echelons on Wall Street. Some may still remember the huge Bonuses that were paid on Wall Street at a Time when several Institutions on Wall Street which paid those very same Bonuses were 'Bailed Out' by the Federal Government. All but forgotten has been the Proposal to institute a 90% Federal Income Tax on those Bonuses paid by Institutions which had received (whether paid back or not) Federal Bailout Money.
Such horrific budgetary Straits at the State and City Level in New York, Wisconsin and elsewhere, not to mention the Federal Deficit Dilemma which has yet to be dealt with, continue against a Backdrop of a Policy of 'Quantitative Easing' being pursued by the Federal Reserve Bank through its most ardent Proponent, Mr. Bernancke.
Just where precisely all this Money is flowing remains a Mystery. However, with Teachers demonstrating in the Capitol Building in Madison, the Tea Partiers marching on them, 5,000 Teachers in New York about to march to the Unemployment Office while Stock Market Averages are catapulting to New Highs, that Question seems to merit being looked into and soon.
The Issues, however, may be too systemic to merit a simple Explanation. On the Side of the Governor, is not only the Argument that the Wisconsin State Budget needs to be balanced but that generous Teacher (and other Public Sector) Salaries and Benefits, not only in Wisconsin but elsewhere as well, have corrupted the Meaning of the Phrase 'Public Servants' so much more so when taking into Account inadequate Public Education Test Scores (see Justice Souter's Comments elsewhere in this Forum). This, at a Time when those who earn their Living in the Private Sector are having to make do on comparatively less, or much less or nothing at all.
In this Case, however, it may be helpful to take a Look at New York City, the Financial Epicentre of the United States and the World, where the Problem may be into somewhat clearer Focus.
5000 Teachers in New York City are not only in Danger of losing their generous Salaries and Benefits but their Jobs altogether. New York City is just flat out of Money and its Revenue Outlook is bleak. The Inequity comes more sharply into Focus there, when paragonating the Situation against the obscene Bonus Earnings continuing to be paid to various Echelons on Wall Street. Some may still remember the huge Bonuses that were paid on Wall Street at a Time when several Institutions on Wall Street which paid those very same Bonuses were 'Bailed Out' by the Federal Government. All but forgotten has been the Proposal to institute a 90% Federal Income Tax on those Bonuses paid by Institutions which had received (whether paid back or not) Federal Bailout Money.
Such horrific budgetary Straits at the State and City Level in New York, Wisconsin and elsewhere, not to mention the Federal Deficit Dilemma which has yet to be dealt with, continue against a Backdrop of a Policy of 'Quantitative Easing' being pursued by the Federal Reserve Bank through its most ardent Proponent, Mr. Bernancke.
Just where precisely all this Money is flowing remains a Mystery. However, with Teachers demonstrating in the Capitol Building in Madison, the Tea Partiers marching on them, 5,000 Teachers in New York about to march to the Unemployment Office while Stock Market Averages are catapulting to New Highs, that Question seems to merit being looked into and soon.
