Let’s hope you are not one of them. Government, state and county jobs are no longer safe. Statistics show all but 4 states are running deficits.

As Washington runs a deficit it puts its hands into our pockets and prints money without our permission. It is actually stealing from citizens because each excess dollar is a dollar of debt that some day (whenever that will be, if ever) must be repaid.

How is it repaid? Higher taxes of course. The last employment report showed the government hired more people than private industry and now we will be hiring 900,000 people as census takers that will make the unemployment rate look better - temporarily.

No government job creates income. All government jobs create more debt. That is why bigger government creates higher taxes.

When people run out of money they go for the next best thing and barter items or their services. What can your county or state do? The first thing it does is lay off workers. There are union contracts that must be honored, but no money.

The governor could declare a 10% pay cut for all salaried, non- contract and elected officials. Don’t hold your breath.

New York has non-working teachers that report in every day and sit in a room doing nothing. Many earn (sorry, wrong word}, get paid over $100,000 per year.

If I was mayor I know I would be bound by that horrible union contract, but I would pay beyond barter.

Let’s issue an IOU for the weekly check to each person: The state of _____________ (you fill in the blank) pays Joe Smith/bearer $1,000 (whatever). This now a negotiable instrument and not real money which the state is not allowed to create. They will have to be very creative on how they put this on their balance sheet. Maybe the way Washington does.

Lawyers will be all over this one faster than ugly on an ape. I bet the state could drag this thru the court for years. When they lose the case, if they do, there won’t be any money to pay either the recipients or the lawyers. Corporations might try this with people who are drawing down on pension fund money at too early dates. This could be a real mess, but it would be great to see someone try it.

Please don’t write me and tell me they can’t do it. I already know that, but they CAN if they want to. New York, California, Michigan, etc. that have, in my opinion, a majority of crooked politicians will suddenly have the voters wake up to their profligate practices and maybe vote them out. The lies will be open for anyone to see.

If this was done some enterprising entrepreneur would immediately set up a negotiable instrument “bank”, but I’ll bet he will charge dollars to set up the account.

Have fun with this one. It’s coming.

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know. Copyright 2010 Williamsburg Investment Co. All rights reserved.