Posted on 03/15/2010 3:48:09 PM PDT by george76
With even well-managed counties, cities and schools finding themselves in the same budget hole that has swallowed state government, California now confronts a financial crisis that may be unrivaled — though it is also maddeningly difficult to quantify.
So just how broke is California?
California's collective deficit may be double the state government's $20 billion budget gap.
Now consider that California has 58 counties, 480 or so cities and nearly 1,000 school districts — plus dozens more special districts, like transit agencies and water boards.
Amid California's harshest slump since the Great Depression, officials from one end of the state to another are preparing to close parks, fire teachers and police officers, and heave Hail Mary plans for tax hikes.
We cannot survive without raising taxes," Santa Clara County Assessor Larry Stone said. "We're just going to sit and wallow in deficits until somebody steps up."
(Excerpt) Read more at mercurynews.com ...
It's not just the Capitol: Billions in red ink drowning California's cities, schools and counties, too
gee, I guess I’m not going to get a state tax return for awhile.
Nearly 10,000 California state retirees pull down more than $100,000 a year, thanks to public sector unions and the Democrat politicians
And yet none of them want to face the facts and do what really needs to be done. Notice they will look at closing parks and firing firefighters BEFORE considering whether they need to cut spending on pensions, welfare, bureaucrats, gay libraries, ethnic community centers and stuff.
I guess this lesson will teach you to up your deductions so that you won’t have the same problem next year. You shouldn’t be allowing the state, nor the Federal Government, interest-free use of YOUR income. Callie, Michigan, etc. are all DEADBEATS and you shouldn’t loan them money for nothing.
California is just like Greece. CA Is probably worse because illegal aliens are also bleeding the state to death.
Also cutting illegal aliens benefits so they go home.
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Liberal dam bust. The California golden high tech egg was dead long ago. Killed off by liberals. It’s surprising it took so long.
They’ve been in total denial for years now. They want to spend like its 2005 forever on. Trying to further raise taxes will only lower revenue further and damage the longer term outlook for the state even more by encouraging business that employ people to leave the state.
The sooner they accept reality the sooner things will start to turn around. What they can’t get through their thick skulls is, they’re going to cut spending one way or another, be it bankruptcy or self control.
We could hope. These politicians would give the wheat to the illegals and pet causes before giving the chaff to the taxpayers.
Oh yes you can. Ever heard of cuts?
And what's your salary, Mr. Stone, including benefits like the best medical and pension plan taxes can buy? Idiot!
Awwwwwwwwwwwwwwwwwwwwwwwwwww!!
well, I only got 200 bucks back last year, so I think I’m doing pretty good with keeping my own cash. thanks for the advice, though.
Kali don’t need no stenkin oil, kali don’t need stenkin hospitals, schools or fire houses, and don’t need no stenkin revenue!!!!!!!!!
You want to up my property taxes until I cannot afford to pay them. I worked hard to own my home and pay it off. If you have your way, the only ones that can afford your new taxes are public employees. The elite of California.
Did not the old USSR work this way?
*
Or, until investors quit buying their bonds and service providers quit providing services without a cashiers check.
Who, in their right mind, would continue to offer goods and services to these corrupt and bankrupt organizations?
The last thing any Leftist wants to make smaller is government, but reality will catch up with them sooner or later. Maybe California could be sold to Mexico to pay off their debt! LOL!
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