Bill Gates says today's state budgets are 'unsustainable'

• Bill Gates is an institution of the left. As such some people listen to what he says.

3/7/11, "Bill Gates weighs in on Wisconsin, sort of," RedState.com, by LaborUnionReport

"Bill Gates, not exactly known for partisan politics, is sounding the alarm on states’ unfunded pensions and health care costs that are wreaking havoc on state budgets (now and in the foreseeable future). Gates does not mention Wisconsin by name, nor does he cite the unionized public-sector. However, with Wisconsin in the limelight right now, Gates’ warning should be heeded by all Americans (union and non-union alike):

There are long-term problems with state budgets that a return to economic growth won’t solve. Health-care costs and pension obligations are projected to grow at rates that look to be completely unsustainable, unless something is done. But so far, many states aren’t doing much to deal with their fundamental problems. Instead they’re building budgets on tricks – selling off assets, creative accounting – and fictions, like assuming that pension fund investments will produce much higher gains than anyone should reasonably expect.

Eventually they’ll have to make some hard decisions about priorities, and I’m worried that education will suffer, even more than it is suffering already because of budget cuts. The issues are complicated and obscured by the complexities of accounting, so most people don’t fully understand what’s going on. More people need to investigate their state’s budget and get involved in helping to make the right choices. [Emphasis added.]

Bill Gates has set up a website that shows just how bleak the numbers are in terms of both pension and health care liabilities in the public sector."...

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Comment to above post on RedState:

"Bill Gates - Corporate Welfare Queen mm2327 Monday, March 7th at 11:46AM EST (link)

Bill Gates talking about liabilities, and claiming that economic growth isn’t something we should work towards as it won’t help reduce our crisis?? Bill Gates doesn’t want the US achieving economic growth, he wants the US reduced to a 3rd world hellhole he can exploit. Seriously.. the man is hostile to the US, and does everything he can to force our engine of growth, jobs out of the US. He’s in bed with the leftist in the EU, he’s one of the Davos crowd. He gets one of his visa workers, a crook installed by Obama, as head of USAID, so as to steal billions of our tax dollars, and funnel them to line Gates’ pockets. Last year, Gates got 36 million US tax dollars to pay for his Microsoft expansion into Sri Lanka, and hundreds of millions more to pay for expansion into Bosnia and Armenia. He demands we pay his business expenses, plus he wants to fund those countries to create outsourcing businesses to target what businesses remain in the US.

Gates’ wants the US to just give up and accept relegation to 3rd world status, so he and those like him can steal our resources. Please stop lending even limited credibility to the leftist, fascist Bill Gates."

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