California is collecting so much of your money it can’t save it all

sacbee.com ^ | 2/1/2018 | Adam Ashton

[VTenigma]

Instead of making the FedGov pay 80% of the $2 bil for the spillway repair. The spillway failed due to poor design and lack of maintenance not an act of god.

[rktman]

How long before "Act of God" is removed from the vernacular? 🤔

[Mariner]

Interestingly, many folks here derisively talk about the dire financial condition of CA.

And they’re wallerin’ in money.

Every state should have this problem, eh?

OF COURSE it means taxes are too high. It also means the State has plenty to meet their obligations.

[mac_truck]

It also means the State has plenty to meet their obligations.

Except their unfunded pension obligations, which is why cities there are going bankrupt.

[SirLurkedalot]

Doubleplusgood, comrade.

[publius911]

How about the Oroville dam?(sp)

I am glad you mentioned that.

Not that the Department Of Water resources is blameless; they were criminally incompetent without question.
The State of California is being sued now by a walnut farmer who lost a Walnut Grove worth $25 million due to the negligent failure of the dam and the resulting destructive erosion and flooding.

THE CRIMINAL NEGLIGENCE IS ENTIRELY THE IGNORANT, ARROGANT, PROVABLE STUPIDITY OF THE MOST UNEDUCATED, SELF-SERVING inept CALIFORNIA LEGISLATURE IN HISTORY!

THEY ARE LEGISLATING MICROMANAGEMENT OF HOW I AND EVERY AMERICAN CITIZEN MUST ACCEPT A DESTRUCTIVE CRIMINAL ILLEGAL ALIEN INVASION, AND FOCUSES ON OTHER TRIVIALITIES, INCLUDING INCREASING THEIR OWN SALARIES.

Is everyone aware of the massive epidemic of sexual abuse AMONG THE CALIFORNIA LEGISLATURE?

See my tag line.

[publius911]

By law, the fund can only hold 10 percent of the state’s projected general fund revenue as a hedge against the cuts that would come in a recession. Any additional revenue has to be spent on infrastructure.

and the criminal governor and legislature passed a law monumentally increasing vehicle and gasoline taxes instead.

And are we aware that Governor moonbeam is failing to explain, how the high speed state train line that he "loves" has increased in cost 500% since it was presented to the voters?

[Mariner]

No state in the union has fully funded their pension system.

I believe that’s a universal problem.

Politicians know it’s suicide to do it.

[Auntie Mame]

They could use that money to pay back the Federal Government the FUTA (Federal Unemployment Trust Account) money they owe.

“Because California has not repaid the federal government its loan from the Federal Unemployment Trust Account, or FUTA, employers are on the hook this year for up to $147 [actually, I think it’s more] per employee.”

[mac_truck]

Easier to balance a budget that doesn't include reserves for future liabilities. Would rather live in Scott Walker's reality than Jerry Brown's.