Posted on 02/17/2009 6:56:20 PM PST by Steelfish
FEBRUARY 18, 2009
The Decline of California They still think they can tax their way out of this one.
If you thought Washington's stimulus debate was depressing, take a look at the long-running budget spectacle in California.
The Golden State's deficit has reached $42 billion, Governor Arnold Schwarzenegger is threatening to furlough 20,000 state workers (go ahead, make our day), and as we went to press yesterday Democrats who control the legislature had blocked lawmakers from leaving until they finally get a deal.
It's sad to watch.
The Golden State -- which a decade ago was the booming technology capital of the world -- has been done in by two decades of chronic overspending, overregulating and a hyperprogressive tax code that exaggerates the impact on state revenues of economic boom and bust.
Total state expenditures have grown to $145 billion in 2008 from $104 billion in 2003 and California now has the worst credit rating in the nation -- worse even than Louisiana's.
It also has the nation's fourth highest unemployment rate of 9.3% (after Michigan, Rhode Island and South Carolina) and the second highest home foreclosure rate (after Nevada).
(Excerpt) Read more at online.wsj.com ...
The state is composed of several large socialist cities from San Francisco, Los Angeles, Santa Monica to Santa Cruz, Santa Clara, San Jose, Oakland and San Francisco. It’s public schools and colleges have all been completely hijacked by the socialists. We have crumbling infrastructure here and tens of millions of illegal immigrants. Traffic in rush hour is a gridlock assuming no fender-benders in which case it’s a journey to hell. People are taxed to death. For all practical purposes it’s been reduced to a status unlike Bolivia.
Not to mention they specifically forbade any direct or capitation taxes as well as the popular election of Senators.
When it hits the fan its going to be bloody, quick, and a real shock to the marxists riding high today.
The looks on their faces will be priceless.
I hope I'm around to see it.
L
A microcosym of what our new President wishes to make for this country.
The country is run by big city liberals and the east coast/west coast elites.
These guys are piling on debt like its their money and free and have no compulsion to steal from us honest workers to payoff bribes promised to those who supported them in the election.
We now have our new attorney general Holder declaring that we are a racist nation and we need to improve greatly.
Doesn’t the guy even realize that he got into the top legal job in the land and his boss the head of it all? How are we racists?
When it became evident that the 08/09 budget was out of balance, they started this charade to renegotiate it under the "fiscal emergency" umbrella to be dealt with in Special Session. Then they decided to put it together with next year's budget and move all the discussions behind closed doors. In essence, they are negotiating 2 years of budgets, or 18 months since this year is already half over. Their terms are "2008-2009 Special Session Budget Adjustment" and "2009-2010 State Budget Act."
They have said when this is all over, they will still revisit it in May (when the normal process for 09/10 would have gotten started.)
CA: State hits wall over its budget - FINANCES:Layoff notices go out as GOP legislators won't bend.
I've found it easiest just to follow the discussions by watching comments under that keyword.
BTW, the Senate is due to go back in session in 20 minutes. So far, all I've heard is a few Dem speeches crying about Armageddon, a few Reps sticking up for us taxpayers -- then they call for a vote by those abstainers who haven't yet budged (Ashburn-R, Cox-R, Cogdill-R, and Correa-D). Then they recess and do it all over again a couple hours later. Making (pork) sausage in the state capitol ain't pretty, LOL.
How are you following the developments?
...you seem to be on top of things.
Twice.
-PJ
Yes.
They have been wrangling over this since June of last year. Why now, you ask? We are now actually running out of cash to make payroll.
Why now, indeed.
I would assume it’s because next years budget is right around the corner. Guess that tells you how much the word “budget” means to ‘em.
The next years budget is 5 months away (Jul 1).
They are running out of money now. I believe the state is actually in default.
More whiny speeches just completed. More pubbies standing up for the citizens. One more vote, the same 4 guys still abstaining.
Senate in recess until 7PM. Hollingsworth calls for Republican caucus.
It looks like another day of stalemate, or checkmate, depending on how you look at it.
The Golden State's deficit has reached $42 billion, Governor Arnold Schwarzenegger is threatening to furlough 20,000 state workers... Democrats who control the legislature had blocked lawmakers from leaving until they finally get a deal... a decade ago [CA] was the booming technology capital of the world -- has been done in by two decades of chronic overspending, overregulating and a hyperprogressive tax code that exaggerates the impact on state revenues of economic boom and bust. Total state expenditures have grown to $145 billion in 2008 from $104 billion in 2003 and California now has the worst credit rating in the nation -- worse even than Louisiana's. It also has the nation's fourth highest unemployment rate of 9.3% (after Michigan, Rhode Island and South Carolina) and the second highest home foreclosure rate (after Nevada).We're Number One! We're Number One! ;')
Ping!!!
7:08PM: Republican caucus adjourned. Senators being rounded up for more discussions.
That was short lived. No change in vote. Senators confined to building — Lockdown!
To reconvene at 10PM.
Do you think Jim could prevent disclosure of real email addresses, which leads to further disclosure of identity,
___________________
Surely none of you are foolish enough to use your real email address and not one made specifically and used ONLY for this site and nothing else. Search “How to be anonymous on the internet”. It’s not that hard.
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