During an economic crisis you need both feet planted on solid ground. Need proof? Silicon Valley Bank (SVB) climbed out on a limb, the economy snapped, the limb snapped, in the blink of an eye SVB collapsed.
First Citizens Bank doesn’t climb out on limbs. And by standing on solid ground it serves its customers and communities well. When Silicon Valley Bank (SVB) collapsed, First Citizens – again, standing on solid ground – was in a strong position to take SVB over. It did. And First Citizens stock soared.
Overspending and debt are limbs government climbs out on – and unfortunately, right now, state government has big debts. The state Pension Fund is billions of dollars in the red. So is the state Healthcare Fund. And local governments have billions in unfunded debt of their own.
In today’s economy that’s not where you want to be. You don’t want to be standing on a mountain of debt. That’s another proof politicians don’t solve problems – they create problems. To weather this economic storm it’s time to elect leaders who’ll look politicians in the eye and say, Enough. No more. Stop piling up debt – let’s get back on solid ground.