Posted on 12/17/2007 7:00:31 AM PST by goldstategop
When you take a close-up look at the red ink gushing from the state Capitol, it becomes a very ugly sight.
For starters, the problem is worse than first thought.
Nonpartisan Legislative Analyst Elizabeth G. Hill last month projected a nearly $10-billion deficit spread over the current and next fiscal years. Then last week, reports leaked that the Schwarzenegger administration, with updated numbers, is projecting a $14-billion deficit. Actually, it's $14.5 billion.
Add to that some minimal reserve any prudent budget should include -- say, at least $1 billion -- and it's a $15.5-billion hole that must be filled next year.
Numbers change every week in Sacramento and nobody can really be sure of anything -- except that dramatic steps must be taken: steep spending cuts and/or unpopular tax increases.
The two Democratic leaders of the Legislature -- Assembly Speaker Fabian Nuñez of Los Angeles and Senate President Pro Tem Don Perata of Oakland -- already are calling for tax increases.
"I don't think the way you get out of this is simply do a poll and see what's popular with voters and what isn't," Nuñez told reporters. "This is a time for real leadership, for having real honest conversations with voters."
(Excerpt) Read more at latimes.com ...
"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
The California Liberals: Building brighter economic futures for residents of Colorado, Nevada and Arizona one tax hike at a time.
Take a bow, California Democrats. Two of these desert wastelands couldn’t have done it without you.
Arnold is calling an emergency on his budget. Pretty rich in that he is saying, he is completely unable to manage the states funds which are his Constitutional responsibility. He is announcing what most knew sometime ago.
He is an inept Governor.
"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
The governor is required to present a balanced budget - he has not done that.
Does anyone know, during the last standoff, he said he would line-item veto over 700 million in spending if republicans would just agree to the massive spending increases? Did he do it?
Arnold has spent more time telling Republican to just work with the left, never holding them accountable for anything. He caused this mess.
"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
Funny, that is what Arnold said he was going to do -— until he got elected.
And the morons who have taken California from unprecedented prosperity to financial disaster do not intend to limit California's resources to the support of Mexico. There's the rest of Latin America--and the rest of the world.
California cannot do it. It is impossible.
Marxism is not sustainable. Its ultimate result is financial ruin.
It's a matter of math. But the morons whose brains have been softened to incompetence by the Decadence that is the Left are incapable of math or logic or the comprehension of cause and effect. In fact, they scorn such higher workings of the human mind. To them intentions are all that matter.
Go ahead, nitwits. Raise taxes. Then raise them again. And yet again. Congratulate yourselves on your good intentions. And watch those good intentions pave the Road to Hell. It's already well paved, but these people refuse to learn from the past also, and insist on repeating history.
The Decadence that is the Left, is the most dangerous and destructive foe Western Civilization has ever faced. It threatens to destroy Western Civilization where religious perversion and fanatacism, religious wars, famines, ignorance, and the Black Plague failed.
"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
It's called stagflation.
Gawd I’m so glad I got out of there when I did.
Can’t wait to see what Arnold recommends.
"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
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