S H O C K E R
If you thought the budget disasters striking states around the country were bad, consider this: A new report from the University of Illinois says the 66% income tax hike recently approved by Gov. Pat Quinn and the General Assembly is nowhere near enough to solve the state’s $15 billion deficit.
While the tax increase is expected to raise $4 billion, the deficit for 2011 is now nearly three times larger, standing at $11 billion. As in most other deeply indebted states, painful cuts must be made in everything from police and prisons … fire and emergency services … government worker salaries and pensions … and much more in order for the state to avoid default.
Another case in point: Camden, New Jersey, where, in a solemn display, laid-off firefighters and police officers lined up this week to turn in their helmets and badges.
Nearly half the Camden police force, including civilians, and about one-third of its firefighters have now lost their jobs as city leaders desperately try to balance the city’s budget.
THIS is what I’ve been telling you about. THIS is why I say this crisis is now UNAVOIDABLE. No conceivable amount of tax increases OR budget cuts will ever be enough to end this crisis in the short term.
That’s why I am hosting a historic online briefing called “AMERICA’S DAY OF RECKONING 2011″ to help you protect yourself and profit despite what may be the greatest debt crisis in U.S. history.
Go here to grab your FREE registration while there’s still time:
+ + Day of Reckoning Is Here…
The states, counties and cities have simply spent too much for too long. Now, the chickens are coming home to roost. The piper must be paid. The day of reckoning is here.
It’s also essential to understand that, as these states, counties, cities and towns begin falling like dominoes, the defaults will inevitably have a huge negative impact on the broader U.S. economy and stock marke Now, perhaps more than ever before, you need answers to protect your wealth and keep it growing through this crisis — and that’s why I’m hosting America’s Day of Reckoning next week…
++ 11 States Most Vulnerable To Financial Disaster
Right off the bat at this timely briefing, we’ll name the 11 states most vulnerable to financial disaster PLUS the 26 large tax-exempt bond issuers most likely to default this year.
Plus, we’ll also NAME the specific investments we’re counting on to not only PROTECT your wealth, but also to MULTIPLY IT as this crisis unfolds!
This government debt crisis is real. As New Jersey Governor Chris Christie told 60 Minutes recently, the Day of Reckoning is here. There is no ignoring it or delaying it. When the first domino falls, it will have major ramifications for every investment in your portfolio and every dollar you own.
That’s why I believe it is absolutely critical that you do NOT miss this critical online event!
THE EVENT: America’s Day of Reckoning in 2011
THE DATE: Wednesday, January 26, 2011
THE TIME: 12:00 Noon Eastern Time
THE VENUE: Online video teleconference
THE PRICE: Zero
GO HERE TO REGISTER:
This briefing is complimentary for all of our readers. All we ask is that you reserve your place NO LATER than NEXT Tuesday, January 25.
Registering takes only a few seconds and is absolutely free. To secure your place now, go here:
Good luck and God bless!