{"id":685,"date":"2011-02-22T11:45:17","date_gmt":"2011-02-22T18:45:17","guid":{"rendered":"https:\/\/scotshonor.com\/?p=685"},"modified":"2011-02-22T11:45:17","modified_gmt":"2011-02-22T18:45:17","slug":"and-then-the-bubble-burst","status":"publish","type":"post","link":"https:\/\/scotshonor.com\/?p=685","title":{"rendered":"AND THEN THE BUBBLE BURST!"},"content":{"rendered":"

Governor Walker has already won in Wisconsin.\u00a0 It is all over but the shouting and the shouting is near the end.\u00a0 The fat lady may not be singing yet, but she is warming up in the wings.\u00a0\u00a0 Notice how the Obama administration is trying to re-write history pretending they weren\u2019t actively promoting the protestors:<\/p>\n

http:\/\/www.commentarymagazine.com\/2011\/02\/21\/obama%E2%80%99s-attempt-to-distance-himself-from-wisconsin-rally-fails\/<\/a><\/p>\n

The union bubble has burst and the collapse is going to be bigger than you can even imagine:<\/p>\n

http:\/\/www.politico.com\/news\/stories\/0211\/49893_Page2.html<\/a><\/p>\n

The unions will continue to put on a good show, because they have no other option.\u00a0 But sympathy demonstrations in New York and California aren\u2019t going to have much impact on Wisconsin.\u00a0 The Governor is rock solid and so is the Republican legislature.\u00a0 It is really quite simple.\u00a0 Most of us, not employed by the state or federal government, have first-hand experience with the arrogance and incompetence of the bureaucracy. Combine that with the knowledge that they are\u00a0making huge salaries,\u00a0\u00a0don\u2019t have to pay for benefits, don\u2019t have to contribute to their flush retirement accounts and\u00a0can\u2019t be fired and annoyance turns to resentment.\u00a0 Now fuel this with them calling in sick so they can scream and yell because they are being asked to accept a minimum cut in benefits, when a lost of people\u00a0have been forced to cut their\u00a0personal budget to the bone, and resentment turns to rage.<\/p>\n

This was bound to happen.\u00a0 The union bubble was bigger than the housing bubble and it was just as economically unsustainable.\u00a0 The public sector unions thought this would last forever.\u00a0 They would just keep demanding more pay and benefits and their lackey politicians would just keep raising taxes.\u00a0 But the problem is that they ran out of people to tax.\u00a0 No one, and I mean no one, is even pretending that raising taxes is the solution to our financial problems.\u00a0 Even Governors like Brown are making significant cuts that would not have been considered just a few months ago.\u00a0 This is just like the housing bubble.\u00a0 Once you run out of buyers willing to pay inflated prices, the bubble will burst.\u00a0 Well state governments just stopped buying.<\/p>\n

Senator Kohl, from Wisconsin is a liberal Democrat.\u00a0 He is also up for election in 2012.\u00a0 He did not exactly come out in support of the union protests.\u00a0 Instead he gave a marsh mellow middle of the road comment.\u00a0 Just a few months ago, Senator Kohl would have never risked losing union support.\u00a0 Now is he is at least equally concerned over being portrayed as too pro-union.\u00a0 It is a remarkable change of outlook.<\/p>\n

Democratic politicians all over the country are questioning the value of the coveted union endorsement.\u00a0 Up until now, it was the only way to get elected in many states.\u00a0 By 2012, it may be the kiss of death. It is impossible to overstate the significance of the change.\u00a0 \u00a0Not only are the unions rapidly losing political power, they are losing money.\u00a0 Prior to the Cheese State Rebellion unions could be counted on to pour millions of dollars into electing Democrats who supported their agenda.\u00a0 That worked for a long time.\u00a0 It even worked in California during the 2010 election.\u00a0\u00a0 But, last summer the United States Supreme Court leveled the playing field by repealing portions of McCain \u2013 Feingold.\u00a0 Suddenly the business community had enough money available to fight back.\u00a0\u00a0\u00a0This, in addition to the Tea Party involvement, \u00a0is\u00a0part of the reason for the amazing results of the 2010 mid-term elections.<\/p>\n

So, just at a time when unions are taking it on the chin because of a declining economy, they are facing real competition from the Chamber of Commerce and the Tea Party; they get kicked to the curb by Governor Walker.\u00a0 For the public sector unions, this amounts to a perfect storm.\u00a0 We do not know the full amount of havoc that will result from this storm, but we know which way it is blowing and we know who is going to get hurt.<\/p>\n

The Union bubble has burst.\u00a0 The decline will be more rapid and more complete than anyone thought possible.\u00a0 It\u2019s a beautiful thing.<\/p>\n

TDM<\/p>\n","protected":false},"excerpt":{"rendered":"

Governor Walker has already won in Wisconsin.\u00a0 It is all over but the shouting and the shouting is near the end.\u00a0 The fat lady may not be singing yet, but she is warming up in the wings.\u00a0\u00a0 Notice how the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-685","post","type-post","status-publish","format-standard","hentry","category-latest-headlines"],"yoast_head":"\nAND THEN THE BUBBLE BURST! - SCOTS HONOR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scotshonor.com\/?p=685\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AND THEN THE BUBBLE BURST! 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