Wednesday, November 9, 2011

Are We Destined to Become Greece??

Yesterday voters in HARDI's home state of Ohio voted to overturn a key piece of our governor's budget that had erased a staggering $8 billion state deficit created by massive overspending and erosion of the state's tax base over the last several years.  While the headlines will focus on yesterday's vote being a big win for big labor since the vote preserved collective bargaining rights for state employees, what I fear will be overlooked is the broader issue of exactly how committed ALL Ohioans are to fixing our financial woes.  Further, while the Constitutionally-questionable "Super Committee" deliberates in an attempt to trim less than a tenth of the absolutely obscene nearly $15 TRILLION federal deficit, the apparent lack of seriousness here in Ohio to address a state deficit that's less than what the federal government currently spends EVERY DAY hardly instills confidence that we will be able to prevent a Greece-like financial meltdown.  As representatives of a segment of our industry that perhaps relies on credit availability and affordability more so than anyone else, it is certainly troubling to watch our state choose short-term benefits (yet again) over long-term viability.  Keep an eye out, you may start seeing HARDI materials coming from more fiscally sound states like Texas or even our next-door neighbor Indiana...

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