Thursday, November 6, 2008

Cities and municipalities will be hit hard by the economic crisis and they'll be coming to us for more money

The economic slowdown in the US is really beginning to hit the states. There will be a huge combination of cuts in social services and increased taxes as the recession deepens. There will be no federal bail out here although the source of the bail out will be the same, the taxpayer.

There should be a private bail out. Taking private capital from the capitalists and using it for public good. After all, workers are the source of this capital as it is stolen labor power, the product of labor power that the capitalists paid no wages for.

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