He not only will bail out those states, he's already done it once with the earlier "stimulus" plan. It was used largely so that states like California could delay dealing with their unsustainable budgets for unionized employees. He was reelected, so it seems voters didn;' have too much of a problem with it, although the republicans as usual did a miserable job of explaining it to voters. As for your utility bills, to quote Mr. T, I predict pain. How much depends on how much of it comes from coal-fired plants and how accessible nat gas is to your utilities. The re;lative cheapness of gas has spared people so far, but you have to wonder howlong they will be giving it away. also, a lot fo the global warming crowd don;t want utilities buring gas either, so depending upon how crazy EPA is prepared to be, the sky's the limit.
If you are planning to pay 3.8% tax, that means you are above 250K income limit. So you are rich and so why the worry? 3.8% is peanuts for you.
I think he was joking about the 250k being rich. 3% mor or 3% less taxes are details and is not the main issue, it's only a way to an end. Fact is our country has a financial obligation and it may take a small tax increase on the top earners in America to pay our bills and it will require our country spending less. The right drawing a line in the sand over the 3.8% on the top 2% is campaign politics and the campaign is over. Republicans need to step up to the plate, and remember they are working for Americans and not Grover Norquist.
The fact is the gov't keeps making this 'obligation' larger and it never has enough money. 3% won't solve this, not even close. The point republicans are making is that it is time to also then get serious about cuts.
From what I've heard Geitner say, so is the President. I don't think the republicans realise there will have to be a comrpmise, there is no other way. If the President thinks there will have to be a tax increase along with spending cuts then it will probably take a plan something like that to get passed.