The Left wouldn't want to lose one of their crown jewels of Socialist Utopianism, now would they?
Fiscal stabilization? $7.8B?
Since 1910, Propping Up Props on the backs of the common taxpayer.
Posted on 01/24/2009 9:35:34 AM PST by NormsRevenge
WASHINGTON – A new analysis shows that California would get a whopping $21.5 billion under an economic stimulus plan that's expected to be approved by the House next week, making it the biggest winner among the 50 states.
That's according to the National Conference of State Legislatures, which analyzed the new spending proposals offered by House leaders.
Don't take that money to the bank quite yet because the numbers are moving targets. Congressional offices were still trying to digest the mammoth package on Friday. And the Senate has yet to offer its plan.
And even though the proposed amount is equal to about half of California's projected $40 billion state budget deficit over the next 17 months, it's unclear how much of the federal aid would close the state gap.
Gov. Arnold Schwarzenegger is not recalibrating his budget assumptions to account for federal dollars because it remains unclear what amount of money California will ultimately receive and in which form, said Department of Finance spokesman H.D. Palmer. He does not want leaders to reduce cuts or tax increases with an undefined pot of federal money in current state budget talks, Palmer said.
The governor's proposed budget includes $4.7 billion in borrowing that the state would have to repay by June 2011, and Palmer said Schwarzenegger's "first priority" for federal money would be to eliminate the need for that loan.
(Excerpt) Read more at sacbee.com ...
The Left wouldn't want to lose one of their crown jewels of Socialist Utopianism, now would they?
Fiscal stabilization? $7.8B?
Since 1910, Propping Up Props on the backs of the common taxpayer.
Did you hear that? That giant SUCKING sound of money headed for oblivion?
Borrowed money on borrowed time,
the USA is finished, people just don`t know it yet.
October 9, 2008
No Bailout for Sodom
http://www.GOPenema.com
“MrArbitrage on Politics”
I am outraged by the impertinence of Schwarzenegger and his state to come forward expecting my tax dollars to pay for the consequences of their extravagance. They are a textbook case in the tragic consequences of leftism and they should wither on the vine so they may be a shining example of what the Democrats have in store for the entire country when they control all 3 branches of government.
The leftists of this state, for all of their crying about the “environment” have made fortunes as Hollywood dumps their toxic waste into our culture. The ramifications of their toxic waste are far more measurable than the dubious claims of “An Inconvenient Truth.
The inconvenient truth is that for decades this state has given the proverbial “bird” to the vast majority of Americans, our values and our faith. They have wasted their money on left winged programs encouraging such things as illegal immigration. Still lingering in my mind are the recent images, tens of thousands of militants at “gay pride” parades marching through the streets of San Francisco dressed up as our Savior Jesus Christ as they mocked everything that is sacred to “fly over country”.
Now you dare ask me for my money? I thought “gay marriage” was supposed to save California from destitution? Listening to the glowing reports by ABC, NBC & CBS led me to believe that this celebration of sodomy was going to single handedly balance California’s budget as homosexuals travers the United States to get “married”, no?
Is California “too big to fail?” In my estimation, this albatross is too odious NOT to fail. There is plenty of wealth there already. If they want a bailout, they need to go to the Hollywood elitists and make them practice what they have preached. The fortunes of Steven Spielberg, Rob Reiner and David Geffen alone can balance California’s budget. It’s time for California to “take” the “excess profits” from their own citizens. What about the “fairness” doctrine leftists have been ramming down our throats this election season? Let’s see how eager Spielberg and Reiner are to be plundered to support the causes to which they are owing.
That’s the beauty of federalism. There is healthy competition between the states; so if a state governs poorly, there are 49 others from which to choose. I know there are some very good people living there and those good people can vote with their feet. Eventually they will.
By the disgraceful way this state is run, they may deserve to be the first state to be forced OUT the union, “forced secession” if you will. Nobody will be stuck there if they go bust. The only thing that may be stuck there with a little luck is Hollywood and that my fellow Americans would be a good thing. For Hollywood to be plundered by the state treasury into extinction would be the best thing that happened to this country in the past 100 years.
You want to really spark some outrage the likes of which we have not seen since 1861 – go ahead – make our day; force decent Americans to bailout Sodom.”
Unbelievable, over three quarters of the kids in L.A. qualify for free school lunch program. My 5 yr old’s lunch only costs $1.00 a day and these illegal aliens can’t afford it.
Daily News Los Angeles
1/23/09
http://www.dailynews.com/education/ci_11542160
State schools chief Jack O’Connell and Los Angeles schools Superintendent Ramon Cortines on Friday unveiled a new state bill to pay for the state’s meal program for poor students this year.
The bill, by Assemblyman Tom Torlakson, D-Antioch, would immediately appropriate $19.5 million from the state budget to help pay for this year’s free and reduced-cost meals for students. The state is late on $31.1 million in payments for meals from the previous school year.
“That’s for this year only,” O’Connell said of the $19.5 million.
State officials have not decided how to cover last year’s $31.1 million yet, he said.
Approximately 3.1 million students in California - about half of the state’s K-12 student population - qualify for free and reduced-cost meals. More than 75 percent of the LAUSD’s 690,000 students rely on the meals for breakfast and lunch.
Woo Hoo! What this probably means is that once they get the 21 billion dollars, they will spend it on new programs, and then Kaleefornia will be have a 61 billion dollar deficit and can apply for more bailout money.
“That’s for this year only,” O’Connell said of the $19.5 million.
State officials have not decided how to cover last year’s $31.1 million yet, he said.
Approximately 3.1 million students in California - about half of the state’s K-12 student population - qualify for free and reduced-cost meals. More than 75 percent of the LAUSD’s 690,000 students rely on the meals for breakfast and lunch.”
WOW.
If you have a hispanic surname, you autumantically get the free lunch program, which also triggers other Fed. and state money for the school. Plus..you get free busing to the school of your choice(at enormous cost).
We can’t go on like this.
Knowing our legislature, they would take that money and budget it, creating a $60 billion deficit in 2011.
The problem we have now is the EXACT same problem that our previous governor had, and he was eventually recalled. The legislature budgeted all those dot com capital gains taxes as if investor-residents would make those same capital gains in perpetuity. Instead of viewing that money as a windfall they budgeted it forever. In 2001 we were $20 billion in the hole.
Same problem now. Except we voted for Obama and the Dems are 1 seat from veto-proofing the state assembly... so I expect a compliant Federal Congress and President to pour money into this state and hope they can run every last republican out. The state GOP better work overtime to protect what they have, and gain a seat or two for good measure. It is possible to exploit this “gift” as financial folly and continue to show the Democrats as making poor judgement such that we have to devalue the dollar and make inflationary moves that will ultimately hurt the average American more than the current crisis.
The people in California would be better off if their Federal Taxes were permanently reduced by $21 billion. They’d spend, save and invest the $21 billion in ways that would actually save their state economy, instead of simply rescuing their corrupt state politicians.
Gee, thanks a lot, Fed, now let’s talk about our next budget and how much we’ll need. Can you believe this crap?
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