Can't wait for the "entitled" class to respond.
Posted on 05/12/2010 6:02:22 AM PDT by blam
Schwarzenegger Warns Of "Terrible Cuts, Absolutely Terrible Cuts" Coming In California
Joe Weisenthal
May. 12, 2010, 8:49 AM
More evidence that California is the new Greece.
As the state grapples with a horrible budget situation, Arnold Schwarzenegger is warning of pain ahead.
Specifically, according to the SacBee, Schwarzenegger press secretary Aaron McLear said:
"What you can expect generally is no taxes and terrible cuts, absolutely terrible cuts... We're not going to get through the deficit we have without some really tough decisions and some really terrible cuts."
This is going to get really ugly, and though California may stave off default, there's no way they'll be able to stave off the horrible demand destruction that will result from these "absolutely terrible cuts."
[snip]
(Excerpt) Read more at businessinsider.com ...
Coming to a state near you.
They should have done this last year but used the stimulus to plug the holes in the dam. Now it’s breaking...
So California is going to jettison it’s illegals as well?
About time Arnie.
Only 35% of people in LA County pay taxes. Wow!
I think they’re right... California will be JUST like Greece!
In this important way...
The whining will go on right up until the brink of pain... then American taxpayers will be robbed to bail them out.
Drill Baby Drill! (and we'd not need drastic cuts!)
>> Only 35% of people in LA County pay taxes. Wow!
Hell, only 35% of people in LA speak enough English to fill out a tax form.
Exactly, after all the tough talk, “boycott Arizona”, etc...they can’t deny they have similar problems with illegals. Major drain on services, schools, etc.
Can’t wait to see if they cut any welfare programs, or just police, fire, etc. LOL...we know the answer to that.
I heard a call-in guy mention this on Rush's show yesterday. Do you know what type of taxes this applies to? Federal? State? County? Thanks!
Why not drill offshore, send the illegals back to Mexico and get rid of half those union government workers. You’ll have money to spare.
Grecofornia.
As a nation, we need this to hit home and hit hard. We won’t do anything about it until it is too late. Sorry CA, but I would rather have it be too late for you but just in time for the rest of us...But as a people, I don’t think we have the will to do this. I know we don’t have the leadership...
He could have done this years ago...the pain would have been less severe, and the economy better equipped to recover the state faster.
Perfect example of what happens when you consistently kick the can down the road. Watch CA closely.
Ya and I'm one of the 35%, my taxes are through the roof! 10% sales tax and almost 10% income tax. The only bright spot is that I bought my house before the property bubble so my property taxes (thanks to prop 13) are still fairly low.
I expect the 65% that do not pay taxes to riot when the state freebies start to disappear. Can't tell you how many times I've seen people using that food stamp debit card or the free milk vouchers.
I hope not, then the IMF will come calling.
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