Hoping For Big Wall Street Bonuses

Once even the politicians get finished bashing prosperity, they might be inclined to follow the following advice from the WSJ:

If you are a taxpayer in the Northeast, here is some advice: Get down on a knee, clasp your hands and pray.

Pray for banker bonuses this year. Big ones. Cash, preferably.

New York's state government, and its dysfunctional neighbors in New Jersey and Connecticut, already are in deep financial crisis. Without the tax revenue from Wall Street pay and bonuses, they could find themselves closer to the brink.

Yup, even though revenue from Wall Street taxes (due to bonuses) doubled between 2002 and 2007, the Democrats who run New York and New Jersey state governments thought this was a never-ending money train...and spent themselves into crisis. And only big fat bonuses can help bail them out now.