How Obamacare is Hastening the Day of Reckoning

Conn Carroll / December 20, 2010

“It’s not like you can avoid it forever, ’cause it’s here now. And we all know it’s here. And the federal government doesn’t have the money to paper over it anymore, either, for the states. The day of reckoning has arrived. That’s it. And it’s gonna arrive everywhere. Timing will vary a little bit, depending upon which state you’re in, but it’s comin’.”

That’s what New Jersey Gov. Chris Christie told CBS News’ Steve Kroft during his Day of Reckoning story last night on 60 Minutes.

Kroft goes on to report:

Not all of the problems that Illinois and other states are facing right now can be traced to the recession. But the precipitous drop in tax revenues did expose decades of financial irresponsibility, reckless spending, unrealistic benefit packages for public employees, and the use of political gimmicks to cover up hidden deficits. It’s forcing state governors and the public to confront some harsh realities. (more…)