Posted on 06/24/2009 1:32:06 PM PDT by Kartographer
To hear Gov. Arnold Schwarzenegger and state finance officials tell it, July 28 is California's last stand before fiscal Armageddon.
Top financial officers say that's when the state will run out of cash to pay its daily expenses unless lawmakers pass a balanced budget.
Schwarzenegger has warned that government will come to a "grinding halt." The state controller describes "a meltdown."
(Excerpt) Read more at news.yahoo.com ...
Well the first thing you know old Jed's taxes are to much to bear,
Kin folk said Jed move away from there!
Said California is no place for you to be!
So they loaded up the truck and they moved from Beverly
(go’n back to the Hills they are, fish’n holes, country and western stars)
Well now it's time to say goodbye to Jed and all his kin
They would like to thank you folks for kindly dropping in
You're all invited back again to their new locality
To have a heaping helping of their hospitality
(Redneck Hillbillies, is what the press call 'em now,
Clingers of bibles and guns and to Obama no bow!
Nice folks Y'all come back now, ya hear?)
It’s on deathwatch.
Wonder how much will burn when this happens.
It's not "doomsday"...it's "get real" day! Think of it as intervention by reality.
Without money, California will simply run itself without input or direction from Sacramento.
Boo hoo.
me too....I live too close to CA...
We do this every year.
Besides, according to the norks the US will be wiped off the face of the earth on July 4, so a July 28th Armegeddon will for CA will be moot.
Think Ill be running a few pistols into Cali for some willfully blind brothers I have out there.
The state ran out of cash years ago. The title should read that the state has run out of LOANS.
Gimme a bag of popcorn and a first row seat.
I love the way they depict the event of several million lazy incompetent idiots staying home instead of wrecking the State from their govt offices as a “disaster”.
I love it!! That about says it all.
Lead story on local news every night.
Yawn.
Voters tried on Prop 187 but were overruled.
A special windfall tax on Hollyweird.
$1 for every profanity uttered on the big screen.
$1 for every perverted sex act depicted.
$1 for each glorification of drug use.
Deficit eliminated in record time.
the state will run out of cash
So just go to Obama’s ATM!
Might be better to turn the state over to ACORN....they get lots of Govmmnint money ;-)
Hollywood caused this, let Hollywood pay.
The responsible thing to do it to cut *all* non essential services 100% until you fix the udget that would buy months of time..
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Just make sure ILLEGALS are getting their “essential services” and free “healthcare”, welfare and have as many anchor babies as possible and sanctuary cities. All will be well again, when taxes are raised to support this and of course loosen up on borders. Don't’ secure our borders or reject people for work who are ILLEGAL. Oh, yes, LEGALIZE all illegal drugs so we can TAX people for it and provide more rehab centers when more people are out of control.
Oh, silly me ... I almost forgot don't all capital punishment to happen. Instead build more luxurious prisons for criminals to be more comfortable and release some that have been there for too long.
Okay, I'll shut up. I'm getting a headache from liberal logic.
The problem is the FEDERAL governmnet will bail them out.
Other states will get the bill.
It’s never ending.
If they are say...10% over budget, I guess is would make too much sense just to cut every line in the budget by 10% to balance the budget. Or God forbid, they actually cancel a program or two.
Will be fun to watch them squirm!
Very nice, sondofdarksksies :)
I'm not an attorney but I belive this is wrong. A close friend who is a tax attorney effortlessly quoted the chapter that deals with state bankruptcy to me in a conversation a while ago. I believe it has even been used before. Regardless: Defaulting on bonds is the equivilent of bankruptcy, and I don't see anyone who can stop that if they decide to go that way.
The reason bankruptcy is not an option is because states don't need it. Bankruptcy protects you from creditors. States are sovereign. You can't make them pay. What will happen instead is that all state suppliers and vendors will have to operate "cash in advance".
Everyone says someone else has to foot the bill, not them, they are too important. No state employee is willing to give up any salary, but someone else should. It’s crazy how selfish people have become.
Kalifornia still has the money to continue its various infringements of my right to keep and bear arms. We wouldn't want those people in Sacramento who are protecting the public from plastic pistol-grips on rifles to find themselves unemployed.
I guess we'll just have to fire some police or some firefighters so as not to endanger the public. Maybe we'll let thousands of convicts out of prison. Any sacrifice is reasonable if it keeps me from having a handgun that is not of the approved color.
Bankruptcy is a process whereby a person or organization which can't pay its debts is taken over by the courts. The courts decide who gets paid and when and what happens to the assets.
That is exactly what is going to happen in Kalifornia. Everybody owed a dime will head to the courts and the courts, instead of telling them to get lost, will take it upon themselves to decide who gets paid and when and what happens to Kalifornia's assets.
Key thing they’re worried about is people finding out just how little of the government is actually necessary.
Crash and BURN, BABY, BURN!
I wish I had a dollar for every time I’ve heard this in the past 15 years.
On a smaller scale our rural county has the same revenue problem (and apparently as every other government jurisdiction around the nation). I consistently attended the County Supervisor hearings on the budget, basically because, along with others, I was adamantly opposed to tax increases as a reaction.
It was totally amazing. There were absolutely clearcut ways to logically, and comprehensively cut the spending to bring the budget into line. It could not be done. Nine supervisors could not commit or agree to a simple plan of sacrifice, hopefully temporary, to accommodate the taxpaying constituency suffering recessionary times.
Taxes (RE, school, personal prop) were raised (5 to 4), coordinated behind closed doors beforehand.
Something very sinister (leftist) has consumed us.
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