Posted on 06/15/2009 9:38:06 PM PDT by NormsRevenge
SACRAMENTO, California (Reuters) – California lawmakers were poised to miss their constitutional deadline on Monday for a state budget, bringing the state's government closer to running out of cash.
Democrats and Republicans in the legislature's budget conference committee worked through Monday afternoon on a variety of proposals addressing Gov. Arnold Schwarzenegger's plan to close a $24.3 billion budget shortfall, but they failed to find common ground on its most dramatic proposal: eliminating the state's welfare system.
"This meeting is not headed in that direction," Republican Assemblyman Roger Niello said.
California's revenues are plunging amid recession, rising unemployment and the prolonged housing crisis, and the state is unable to borrow its way out of its immediate financial trouble by issuing debt at low cost because of its budget gap.
It will run out of cash within weeks if it does not balance its books, leaving it little option but to postpone a variety of payments, according to State Controller John Chiang, who estimated last week that California was "less than 50 days away from a meltdown of state government."
Democrats, who control California's legislature, said their aim is to cut spending, but to maintain a base of government programs, including many for the needy.
Republicans countered that only dramatic cuts will balance California's budget for its next fiscal year, which begins in July.
(Excerpt) Read more at news.yahoo.com ...
Time to cut the unions loose. Too bad these politicians don’t get it.
Is this necessarily a bad thing?
But...but...the Lakers won! Jobs will be created and tax revenues will flow in when businesses rebuild from the rioting right?
If we had hit bottom 5 years ago, this whole mess would likely be behind us, but aRnold was voted in and borrowed 15
Billion to bail the dems out.. ‘nuff said.
I guarantee taxes get raised to cover this shortfall.
Yes. It's going to send a shockwave down through city and county budgets. I had a meeting with Sacramento County officials today and they were pointing out that 22 of 177 sheriff deputies are on the bubble and they are looking for ways to keep them on. A lot of these public safety funds are categorical and matching funds linked directly to state spending and revenue, so even the most responsibly managed localities are going to take it in the shorts.
I like the republican saying that the meeting will not move toward killing welfare.
Rat.
Even though they passed a Constitutional amendment REQUIRING them to do so.
5,115 retired CA state pensioners receive pensions in excess of $100K/year.
http://www.californiapensionreform.com/calpers/
Local radio was saying the last time they obeyed the law was in '86.
Um, yeah, you’ve had the naked people screaming in the streets.
Or have you forgotten the regular SanFran Gay Pride parades????
And as the mighty ship goes down by the stern, the rats will abandon ship. The band will play nearer my God to thee!
RIP Passengers of RMS TITANIC and the state of California!
http://www.youtube.com/watch?v=BXiKClqEJgU
WAAHOO! Let’er buck! Screw’em all -— Unions, POS Pols,
All of ‘em. It’ll be fun to watch. About Time.
Nope.
Too many illegals would be cut off of medical care.
The American Citizens that work fro the state of CA that know where the illegals are that are working for the State will finally come forward.
Sob stories galore regarding “immigrant families” (criminal illegal aliens) being “broken up” and kids forced to go to a “foreign country” (where they were born and have citizenship) because of “job cuts.”
Too many welfare junkies would be on the street wandering aimlessly, prime targets for TV and Radio news stories unfavorable to the communist utopia.
Welfare “moms” with their kids would be splashed on the news.
If the cops and firefighters are cut even more TV and Radio sob stories will be created.
So… “Too big to fail” And we all know what comes next.
...the funny part is, here in southern California, where all serious news goes to die, nobody cares.
What did Miss Budget think about gay marriage anyway?
i don't want my texas tax dollars propping up fools
Ignore that last post. I may have misread the title.
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