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CalPERS loan sought by Schwarzenegger likely 'very expensive,' analysts say
Sacramento Bee ^ | 8/21/10 | Dale Kasler

Posted on 08/21/2010 9:37:17 AM PDT by SmithL

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To: truthguy

If we elect Whitman we just get another Arnold with higher management skills. She will succeed in prolonging the agony and increasing the debt while not really cutting any of the expenses. As long as a majority of the people and the legislature in CA think that they can continue to support welfare programs and education programs for any illegal that sneaks in the state will remain broke.
Every businessman I know is looking for ways out or around CA. At the same time the Govt. employees are out looking for more clients for the welfare state.
I will vote for Brown because he will truly and finally bankrupt the state and maybe then enough Rats will abandon ship to make some real changes.


21 posted on 08/21/2010 1:10:09 PM PDT by Oldexpat
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To: socialism_stinX

“Arnold has had a tough time as governor. He inherited a bloated oversized budget and a huge financial mess from Davis, and he doesn’t have the financial expertise to deal effectively with this kind of a crisis. He was slow to figure out how bad this budget crisis could get and he didn’t insist on spending cuts soon enough.”

What you say is true, and I have some degree of sympathy for him in that context.

At the same time, it’s an object lesson in electing objects.

CA not only has (1) “the general” economic crisis; it has (2) a particularly odious variation since CA’s housing took such a brutal hit (and yes, enjoyed the biggest ramp on the way up) but CA also has (3) a massively, drastically corrupt and Dem-gerrymandered legislature (52 out of 53 districts are amoeba-shaped googahs that look like paint splatters when viewed on a map) that rivals Louisiana’s in terms of entrenched corruption and institutionalized trough-feeding.

As far as I’m concerned (as a CA resident) it’s gotten to the point where it’s not worth it to pay much attention. Not that I’m going to sit out any election, mind you; I am saying it’s not worth the mental exercise to parse the candidates’ positions. I will just dumbly vote Conservative and hope for the best without expecting anything. Because CA will take a solid decade to *show signs* of turning around. In some respects, I’d like to see Jerry Brown elected, because I’m not happy about Meg Whitman and the amount of money she spent (even though it’s her money and she can spend it however she wants-—I’m talking about the empirical outrage of “buying” an election) and maybe, just maybe, when CA goes over the cliff in a flaming debacle, if the legislature is solidly Dem and the governor is Dem and every dog catcher and municipal janitor is Dem, then maybe it will constitute a “teachable moment”. Though I’m not planning on holding my breath.


22 posted on 08/21/2010 1:23:14 PM PDT by Attention Surplus Disorder ("No longer can we make no mistake for too long". Barack d****it 0bama, 2009, 2010, 2011.)
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To: Oldexpat
I will vote for Brown because he will truly and finally bankrupt the state and maybe then enough Rats will abandon ship to make some real changes.

Don't believe the myth that something good will rise out of an utter catastrophe. Brown being elected will destroy California for decades and possibly forever. I'm not a Whitman fan but get serious, Brown is certifiable. California failing is a horrible situation and even if Whitman is elected we have a slim chance for survival and redemption. With Brown we are finished.

I couldn't disagree with you more. Give me an example of how something good stems from Catastrophe.
23 posted on 08/21/2010 1:30:15 PM PDT by truthguy (Good intentions are not enough.)
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To: truthguy
What I'm really pessimistic about is the California Voter. They are idiots, plain and simple. Most are just totally clueless. Cause and effect doesn't seem to be a concept that they grasp.

Notwithstanding the many conservative commonsense native Californians, the fact remains: California is where you go to when you sell out.

24 posted on 08/21/2010 2:37:01 PM PDT by hinckley buzzard
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To: Attention Surplus Disorder

The entire relationship between the state and the individual needs to be re-thought. Nothing less than an abandonment of the welfare state model can save California’s fiscal ship. Yet California continues to avoid the hard decisions, rushing back and forth, bailing water, barely keeping the boat afloat. The last thing on earth the state needs is yet another Republican who kicks the can down the road. Better to have a hard-left Democrat frankly. Sounds a lot like the federal government!


25 posted on 08/21/2010 3:39:25 PM PDT by Zack Nguyen
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To: Zack Nguyen

I’m voting for Dale Ogden, running for CA Governor in Nov.
He reminds me of Chris Christie - he’s really hard-line on the issue of the State budget - on controlling unions, and reducing taxes, cutting spending and slashing excessive business regulations. : )


26 posted on 08/21/2010 5:46:56 PM PDT by 4Liberty ( How do you spell "moral hazard"?: $ 19, 0 0 0, 0 0 0, 0 0 0, 0 0 0.)
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To: SmithL
I think it is a perverse form of genius. Terminator proposes to take the public sector salary vacuum and attaches it to the public sector pension piggybank.

The first and very expectable result is that the media cries foul. And it does in this article:

The governor's plan represents an apparent about-face – and raises questions about the long-term costs. The last time the state borrowed from CalPERS, it had to pay the pension fund $400 million in interest. More borrowing would surely bring more interest expense, experts said Friday.

Now please pardon me but I just gotta ask... since when has the media suddenly been concerned about "questions about the long-term costs" and "more interest expense"? I mean, to the average California resident and voter, that stuff demonstrably means nada, and the more relevant question is donde esta la Taco Bell or whatever.

So yeah Terminator is crazy like a fox-- however, what worries me about him is all the girlie-man moves in other venues such as gun control. Microstamping?? Terminator is all but openly inviting people who are paying attention to do the right thing to protect themselves and their families, and the state law be damned.

27 posted on 08/24/2010 2:30:12 PM PDT by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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