Posted on 02/27/2009 4:36:59 PM PST by GOPGuide
California's unemployment rate rose to 10.1 percent in January, its highest level in a quarter century, as recession tightened its grip on the most populous U.S. state.
Weakness in the housing and consumer sectors helped drive the jobless rate up from a revised 8.7 percent in December and 6.1 percent in January 2008 and to above the national average in January of 7.6 percent, state officials said on Friday.
Economist Jon Haveman of the consulting firm Beacon Economics said he expects California's jobless rate will climb to the mid-10 percent range and settle there for much of this year.
"It's headed north," Haveman said, noting his outlook reflects Friday's report that the U.S. economy in the fourth quarter shrank at a 6.2 percent annual rate, the deepest contraction since early 1982.
"Things are just simply worse out there than anticipated," Haveman said.
Governor Arnold Schwarzenegger said the state's unemployment report was a "sobering reminder that there is nothing more important than getting California's economy back on track."
California officials hope to bolster the state economy with federal stimulus dollars for public works and are rushing to pump state money into infrastructure projects as well.
(Excerpt) Read more at uk.reuters.com ...
Thank God Almighty those native born Californians are fleeing the state and being replaced by all those wonderfully economically productive immigrants.
Great work Globalists!
Ve must haf ze Revenue, Ja?
Ve must haf ze velfare for der Unions, und, die Illegals, Ja?
If we can’t immigrate our way to prosperity and we can’t tax our way to prosperity, maybe we can borrow our way to prosperity. WashingtonDC elitists just don’t understand economics or don’t care.
Oh, they’ll care when the Chicoms decline Uncle Sam’s credit card and there is a flight of capital out of the dollar. It will be too late by then but at least we will be rid of the welfare state.
Even if they want to buy our treasuries they may not have the money because their economy is shrinking faster than ours now.
Don’t worry. Liberals are going to fix the California economy by massive tax raises.
You see, liberals have figured out that taxes should be Pavlovian; the more people are taxed, the more they get used to being taxed; and then ultimately the more they will start to like being taxed. Ultimately they will begin to drool uncontrollably before every April 15 in anticipation of being able to pay more taxes.
The only other thing California liberals have to do is frame their presentation in the same “Work will set you free” terms as their fellow socialists - the National Socialist German Workers’ Party - and the economy will really begin to take off.
“Excuse me, but did not our glorious elite’s in both major parties tell us that massive immigration is essential to economic prosperity?”
They sure did, along with cheap imports from China.
BTW, they still won’t admit their cheap labor was a net drain on ALL THE REST OF US! Or they just don’t care, which is why they can so easily exploit vulnerable 3rd worlders, not to mention their own country.
Wonder who take home more, the unemployed or the illegal alien welfare recipient?
“Oh, theyll care when the Chicoms decline Uncle Sams credit card and there is a flight of capital out of the dollar. It will be too late by then but at least we will be rid of the welfare state.”
I bet we’ll be borrowing money from China then turn around an cut them a check for foreign aid....along with Mexico, Hamas, whoever!
It’s actually worse than 10.1% because it does not include most of the unemployed illegal aliens, which California welcomed in by the millions.
I want to hear again from the California Chamber of Commerce, and Arnold, and McCain and Rove and all the Democrats save Heath Shuler just how these illegal aliens improve our economy.
California is getting what it deserves. The social services paid to illegal aliens are a considerable part of its debt. The foreclosures of which California ranks on top are mostly the liar loans to illegals. The unemployment for Americans is due to their displacement by illegals.
And yet they voted for Democrats and RINO Arnold and Pelosi, Feinstein and Boxer and the Mexico-first clown mayor of Los Angeles.
Screw ‘em. They got themselves here.
The experiment was already tried. It's called California.
The empirical result is plain to see:
- Unemployment as high as Michigan
- Massive backside welfare problems exacerbated by immigrant demands, since they are by far the largest users
cali sales tax 10 percent. That is the highest in the nation so pay close attention because it is coming to you...of course cali will have 20 percent then.
I already hear about the cost of groceries and TP every day from the other half.
Now we get to add a little more....all to help Los Inmigrantes "suffering" in the sunshine of the L.A. basin.
Pobrecitos.
And nothing like a 40 billion dollar tax increase to jump start a weak economy.
Face it Arnold. The patient is dead. You killed him.
As CA goes, so goes the Nation. Come here if you want to see the future for everyone.
“Things are just simply worse out there than anticipated”
Anticipated by whom? Many here knew it was going to be bad with Bamo in office.
The markets hate socialism. Our markets are doing the same things as Russia’s, for the same reason.
ITS ON! REVOLT, RECALL & REPEAL!
2009 Tax Revolt is on!
Make your voice heard!
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Go to site to print out fliers
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