Christopher J. Christie

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Ballooning Government Debts

A government debt is a government claim against personal income and private property – an unpaid tax bill. – Hans F. Sennholz "All democracies institute programs for current voters and shift the debt to future workers, even the unborn. Social Security, Medicare, prescriptions drug benefits for seniors are prime examples in America." Many U.S. States are battling public debt. Steve Forbes believes that the Obama's stimulus money to these States has only delayed their 'moment of truth'. Governor Chris Christie of New Jersey is praised by Forbes for reeling the spending back to 2006 levels and trying to negotiate with the public employee unions. "Under-funded public employee retirement and health care contracts are a major portion of the debt."

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