Posted on 10/03/2008 8:20:09 AM PDT by Red in Blue PA
California may need an emergency loan of up to $7 billion from the federal government within weeks, the Los Angeles Times on Friday quoted Gov. Arnold Schwarzenegger as saying in a letter to U.S. Treasury Secretary Henry Paulson.
In the letter dated October 2, Schwarzenegger called for the passage of the $700 billion financial industry bailout plan which the U.S. House of Representatives is expected to vote on Friday, the Times said.
“Absent a clear resolution to this financial crisis, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the federal treasury for short-term financing,” Schwarzenegger wrote in the letter, according to the paper.
(Excerpt) Read more at msnbc.msn.com ...
But California is the world’s sixth largest economy! That’s what they always tell us poor schlobs in the other 56 states!............
Let California deal with it.
They openly sell POT to anyone.
They elect the worst of the worst.
They let illegals control the political agenda.
Well, outside of Orange County anyway. God Bless them down there.
Screw you California. Deal with your own mess.
Time to throw a few billion at climate change and golbal warming ain’t it? 2 fairy tales the libs love.
Who didn’t see this coming?
President to CA: drop dead!
True, but the weather is real nice.
Get it from Pelosi, Marin County and Hollywood. Throw in a few crying towels for good measure.
Condolences to all brave Ca. Freepers for the dreck ruining your beautiful state!
Yeah, everyone has their fricking hand out...tough stuff Arnie, suck it up!
There! I can be Governor!
What does California have for collateral, and what interest rate are they willing to pay?
And why can’t they go to a bank or put out a bond issue like any other government?
How many hundreds of millions of $$$ could Cali save if they started deporting those who dont belong here...no more medical, no more education etc.
What socialist running out of other peoples money, how can this happen in such a workers paradise? Not a dime from the national treasury. Let California do what everyone else does when times get tough...cut back on spending.
Hey Schwarzenegger, go ask Mexico for a bailout seeing your state loves to coddle their illegal invading citizens in your state.
They’re fleeing like rats (or ‘Rats) to Arizona, simultaneously lowering the average IQ of both places.
Like Wesley Snipes
Don't dare as the US for the money.
California, BITE ME! You got yourself into this (typical) liberal mess. Get yourself out of it.
They managed to save $6 billion while the budget was waiting to be passed. That was only a couple of weeks ago. Did they blow through that already, or is Arnold preying on people’s fears to get more money?
Their credit is not good to me.
This is should be considered a sub-prime loan. Hopefully we have learned not to make loans to parties who cannot repay their debits.
If anyone thinks the current bailout is a tough sell, just try and sell a bailout of CA.
Does Schwarzenegger have a clue about how many middle Americans despise California.
PING PING PING!!!!!
I noticed Dianne Feinstein is advocating the credit bailout for the Chinese investors - isn’t her husband tied to the Chinese bankers? so shouldn’t she recuse herself from voting?
Looks like it’s time for CA to trim the fat and find that seven billion somewhere. While it’s easy to blame the CA legislature and Arnold, let us not forget that it’s ultimately the voters that put those creeps in there. Hopefully the voters are learning an important lesson right now.
Well Arnie, I know where you can find a quick 7 Bill+. Start immediately by doing away with all benefits to illegals.
NO. Open the coast to drilling first.
It’s got to get worse if they don’t start cutting spending. When the time comes to reassess property values due to crumbling prices, their money shortage will only increase as they collect less from property taxes.
...before Castro wrecked Cuba, Cuba was the crown jewel of the Caribbean.
Damn straight! Let the illegals eat yellowcake.
A loan? Sure, no problem.
Let’s see I got 40,41, wait...
how much did you say you needed?
Freeking socialists always want to line jump ahead of conservatives like me!
/sarcasm....but might as well, under socialism if your not in line you get nothing!
Lets see...we wrote a 400-page document for the Wall street bailout....and for California...it’ll likely be a 550-page document. The Hollywood movie producers will get a $15 million dollar credit for each movie made, the surfer’s association of Houston will get $500,000 for a big statue, and a study on mountain lions in Hawaii will involve $40 million in government surplus money.
California has turned into an armpit. They could bring the budget under control if they do the following:
1. Stop giving social services to illegal aliens and start fining employers who hire them(alot of them work under the table)
2. Reduce government employee pension programs. Does the private sector get a guaranteed pension of 75-100% of their last years salary?
3. Go after welfare cheats. The amount of money spent on people who can work but are on full “disabiity” is alarming.
BS. Lay off state employees and clear out their offices. And don’t come around with losing cops and F.D. ever again.
Message to Arnold, cut spending or start drilling.
You can't ask a Senator to recuse herself when all she's doing is rescuing herself?
[/sarcasm]
Can I just have the money I put in back?
I promise, you won’t notice it missing.
You can't ask a Senator to recuse herself when all she's doing is rescuing herself?
[/sarcasm]
As a Californian, I urge the Fed to say no! Our idiot politicians just went 80 days past the due date for a budget. The Governator issued an executive order to temporarily reduce the pay of state workers to keep enough money in the state treasury to prevent a situation like this, and the Dem state controller refused - and all of the Dems and the state employees cheered!
Well, let them cheer now, with the state running out of money.
duplicate - screwup - sorry
Schwarzenegger baby already has his hand out. Damn RATS in disguise.
California has lots more problems than $7 billion will fix. If California is given a loan, the dam will burst. Many other states will also clamor for the same deal. The loan will just be bandaid. Every rat controlled state will ask for permanent federal funds.
Bankruptcy or at least the threat of bankruptcy is the best option. The threat of bankruptcy will force difficult decisions especially in dealing with the state workforce. The normal retirement age should be raised to 65. Subsidies for early retirement should be ended. The nonsense that state employees can retire at ridiculously young ages without deductions in benefits is outrageous.
This is all self-inflicted in California.
I recall Schwartnegger response on Limbaugh to the assertion he didn’t govern with principle as he had to get results.
Well, it appears the results are in.
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