Recently I was delighted by a completely unexpected invitation. I was contacted by www.bizymoms.com and asked if I would like to become a featured expert and author for their website. It was an honor to accept. I have submitted a few articles, and enjoy what I am learning from the many resources available on their excellent site.
Then a couple of days ago, an invitation went out to their expert authors suggesting that we write an article which addressed the question, “Why love America?,” in celebration of the Fourth of July. While it had not occurred to me to write on that topic, I was intrigued and the challenge stirred something within me. The next day I submitted my article, and was informed today that, “For the Love of Liberty” has been selected, along with others, as being featured on their site. Once again, I was very pleased and honored.
Reflecting on the greatness of this nation, as I wrote my article for submission, made reading the cover story of TIME magazine for June 28, 2010 all the more painful and troubling. As we the people prepare to celebrate our nation’s birth, we are reminded of her brokenness. The cover story of TIME shows a bent and battered license plate which reads: “Your State More Taxes, Fewer Services.” Where the personalized text of a vanity plate goes, it says: BNKRPT. The title of the story is, “The Broken States of America.”
Writing about “The Other Financial Crisis,” author David Von Drehle takes us across this land, state by state, recounting their financial woes, missteps, and dire projections. Von Drehle cites the precipitous drop in tax revenues as property values have plummeted; how incomes have decreased; and retail sales have dropped along with consumer confidence. To this he notes the soaring unemployment numbers – and the subsequent demands on welfare and Medicaid services – which such unemployment numbers set in motion. In a sweeping statement he observes, “Schools, health services, libraries – and the salaries that go with them – are all on the chopping block as states and cities face their worst cash squeeze since the Great Depression.”
Along with all of these services, the entire retirement situation is really bleak. The issue of public-employee pay and benefits is horrifying. The Pew Center on the States (a nonpartisan research group), estimates that “states are at least $1 trillion short of what it will take to keep their retirement promises to public workers.” The article goes on to quote two Chicago-area professors who recently calculated that the shortfall is actually $3 trillion. Clearly, the way things have been structured is simply unsustainable, and things are really going to hit the fan. No matter where one stands on these issues, it is glaringly obvious that there will be massive cuts and much pain in nearly all states.
While there are viable options and exciting opportunities for individuals who are willing to take decisive action based on this new reality, we are no doubt going to see significant cuts in a multitude of state services – right at the point when more folks than ever are going to need them. And no one is going to be exempt. The crisis among the states affects us all in one way or another. The only hope I see is to be prepared and make swift and intentional decisions in order to leverage the situation and even be positioned to benefit from it. As Kip Herriage, President of Wealth Masters International, and others have said, “The best way to help the poor is to not be one of them.”
America is still the greatest land of opportunity, and it is imperative we find the opportunities in the midst of this very real crisis. And please remember, your success is my goal.
WealthWithHeart Blog 