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Schwarzenegger: $4.4B in tax hikes to cut deficit ($4.4B in cuts, "We must stop the bleeding.")
AP on Yahoo ^ | 11/6/08 | Judy Lin - ap

Posted on 11/06/2008 1:44:54 PM PST by NormsRevenge

SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger on Thursday proposed $4.4 billion in new taxes and a similar amount in spending cuts to deal with California's worsening fiscal crisis, saying, "We must stop the bleeding."

Much of the new revenue would come from a 1.5-percentage-point increase in the sales tax; the Republican governor described the hike as temporary but did not say how long it would last.

"We have a dramatic situation here and it takes dramatic solutions ... and immediate action," Schwarzenegger said as he called the Legislature back into session to deal with the budget shortfall.

The governor said $4.5 billion in cuts will be necessary across all state programs, including education, social services, health care and prisons.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Government; Politics/Elections; US: California
KEYWORDS: calbudget; california; deficit; schwarzenegger; taxhikes
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To: NormsRevenge

Wasn’t it Reagan who said: “There is nothing more permanent than a temporary tax increase.”


21 posted on 11/06/2008 2:06:37 PM PST by bharrin742
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To: NormsRevenge

Wasn’t it Reagan who said: “There is nothing more permanent than a temporary tax increase.”


22 posted on 11/06/2008 2:06:37 PM PST by bharrin742
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To: bharrin742

Yup. what can ya say?


23 posted on 11/06/2008 2:10:08 PM PST by NormsRevenge (Semper Fi ... Godspeed)
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To: NormsRevenge
The governor said $4.5 billion in cuts will be necessary across all state programs, including education, social services, health care and prisons.

Oh sure..like the derelict leftards in the Mexifornia state legislature are going to buy that.... better up that that tax increase to $9 billion Ahhhrnold.....

24 posted on 11/06/2008 2:16:15 PM PST by tflabo (:)
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To: NormsRevenge

Dear Ahhhnold ....

NO!!!!!!!!


25 posted on 11/06/2008 2:21:13 PM PST by PERKY2004 (Praise the Lord -- my husband has returned safely from Iraq!!! Woo hoooo!)
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To: NormsRevenge
$4.4 billion, peanuts.

George Bush recently gave $48 billion of my tax money to Africa.

Everyone is so generous with my money.

26 posted on 11/06/2008 2:23:10 PM PST by blam
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To: tcrlaf
It’s CLEAR that California voters won’t allow cuts in state programs, so Arnold is being left with utterly no choice.

Hogwash!

He WON on a platform of "CUT, CUT, CUT."

Between he and McClintock, both touting a platform of fiscal conservatism, they won 65+ % of the vote.

27 posted on 11/06/2008 2:24:08 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: NormsRevenge
Goodbye Goose.

Hello chickens..

28 posted on 11/06/2008 2:28:05 PM PST by tflabo (:)
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To: tflabo

Yup, the Gol’darn Goo$e is moving to Las Vegas, Off to lead a more sedate(d) lifestyle... and none too soon. talk about being overworked the last decade.

On inauguration day, I’m sure Rev Wright and Farrakhan will pray for healing and the economic betterment of all peoples. bwuucckk

.. and then serve the chickens that came home to roost later at a church social.

Trojan Horse Trojan Goose

summer 2010

starring

aRnold Jackie Chan Jet Li Chuck Norris The Transporter
Whoopi Goldberg More Kennedys than ya can shake a stick at


29 posted on 11/06/2008 2:46:41 PM PST by NormsRevenge (Semper Fi ... Godspeed)
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To: blam

4.4B. It seems like chump change these days, huh?

numbers just numb after awhile.. it all becomes a blur, green, lots of green..

Everett Dirksen said it best.


30 posted on 11/06/2008 2:51:04 PM PST by NormsRevenge (Semper Fi ... Godspeed)
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To: NormsRevenge

Stop the bleeding? Arnold, you’re just looking for more and more blood donations, while the bleeding just keeps on increasing.

Cauterize.


31 posted on 11/06/2008 2:57:53 PM PST by pogo101
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To: NormsRevenge

Of course, don’t stop some of the freebies given to Illegals or any other stupid state functions.


32 posted on 11/06/2008 2:58:33 PM PST by Reagan69 (No Representation without Taxation !)
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To: NormsRevenge
"Everett Dirksen said it best."

A billion here, a billion there, pretty soon...

33 posted on 11/06/2008 3:01:14 PM PST by blam
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To: NormsRevenge
It's just beginning.

Philadelphia mayor outlines drastic budget cuts 5 hours ago

PHILADELPHIA — "Philadelphia Mayor Michael Nutter says the city will need to close libraries, suspend planned tax reductions, furlough some employees, lay off others and cut salaries for some high-level administrators — including himself.

Nutter outlined the drastic budget cuts in a live, televised address. The address is a rarity and represents an attempt to convey the seriousness of the dire financial situation.

Nutter said in his address Thursday that the city is facing a deficit of $108 million this year. Officials say that could grow to more than $1 billion over five years.

The mayor says the fiscal problems stem from the same troubles overwhelming the national and global economies.

He says the road ahead is rocky, but that the city will emerge stronger, prosperous and more efficient."

34 posted on 11/06/2008 3:03:01 PM PST by spectre (Spectre's wife (God is still in charge)
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To: NormsRevenge

Great, pour gas on the fire.....Yea, that will work in this economy.


35 posted on 11/06/2008 3:16:50 PM PST by TheDon
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To: NormsRevenge
You send me a bottle of CA Merlot...and I will send you a bottle of OK Merlot.
36 posted on 11/06/2008 4:33:12 PM PST by Osage Orange (Victims that fight back live longer.....................)
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