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Thread: California goes broke, halts $3.5 billion in payments

  1. #11
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    Re: California goes broke, halts $3.5 billion in payments

    California has been hit hard in several areas for the the last decade, and combined with rampant spending, we are now broke. I'd recommend getting rid of prop 13, so the state can actually draw in some revenue. Young people can't really afford homes in a climate with no jobs and no credit.

    Ultimately, the probably is overspending and now its time to unleash the horsemen and let the reaping begin. LA Unified gobbles up a nice 13 billion annually, then proceeds to spend record proportions on administration instead of students. It needs to broken up into a series of smaller school districts where the local community actually can decide how to run their school.

    Next, we need to get Obama to call of the DEA, and let us run our own damn state. We pulled in 2 billion from taxing alcohol/tobacco, and spent 10 billion on prisons. If we decriminalized marijuana in reasonable quantities and taxed it, we could be looking at billions in revenue.

    Finally, we need to get our economy going to bring money back into the coffers. California made a good choice in bringing the stem cell research here, now we should be looking for other emerging technologies and encourage them to locate in our nice climate.

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by rathi View Post
    California has been hit hard in several areas for the the last decade, and combined with rampant spending, we are now broke. I'd recommend getting rid of prop 13, so the state can actually draw in some revenue. Young people can't really afford homes in a climate with no jobs and no credit.

    Ultimately, the probably is overspending and now its time to unleash the horsemen and let the reaping begin. LA Unified gobbles up a nice 13 billion annually, then proceeds to spend record proportions on administration instead of students. It needs to broken up into a series of smaller school districts where the local community actually can decide how to run their school.

    Next, we need to get Obama to call of the DEA, and let us run our own damn state. We pulled in 2 billion from taxing alcohol/tobacco, and spent 10 billion on prisons. If we decriminalized marijuana in reasonable quantities and taxed it, we could be looking at billions in revenue.

    Finally, we need to get our economy going to bring money back into the coffers. California made a good choice in bringing the stem cell research here, now we should be looking for other emerging technologies and encourage them to locate in our nice climate.
    I agree. But I also think a lot of these little programs could be cut by the thousands. Safe havens for heroine addicts to have their heroine administered by real nurse? Out.

    Clean needle exchange programs? Out.

    Multiple times through state funded rehab clinics? Out.

    Sanctuary cities and the legal costs involved with maintaining that status? Out.

    That's just a few off the top of my head.

    And you are most correct about the damned school systems. They are a huge drain, giving kids a second rate education while enabling some of the worst teachers in the country.

  3. #13
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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by chevydriver1123 View Post
    First state in the country to go down, I wonder which one is next. Im going to put my money on mine.
    Couldn't have happened to a nicer bunch.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  4. #14
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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by jallman View Post
    I agree. But I also think a lot of these little programs could be cut by the thousands. Safe havens for heroine addicts to have their heroine administered by real nurse? Out.

    Clean needle exchange programs? Out.

    It blew my mind when I saw those on a doc on MSNBC. To think they actually have those and fund them with taxpayers money is an outrage.

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by danarhea View Post
    It is official. California is broke, and cannot meet its obligations. It's deficit is now 35% greater than the money it takes in.

    California is also dumb. Why don't they just print up a bunch of counterfeit money to make ends meet? That's what the Federal government does.

    Article is here.
    YAY us! And here are some facts that people need to know; California does not have a REVENUE problem it has a SPENDING problem. California has taken in 40% more revenue over the last five years, yet has spent itself into a $40 billion dollar hole.

    This is what you get when Democrats run the show. Arnold may be the Governor, but the legislature is infested with mindless Liberals who never see a program they didn't want to fund. The impasse is a result of Arnold being a partial Conservative and insisting cuts be made. It's 90 days and counting; sooner or later, the mind numbed Democrats may get a clue so the State can again pay its obligations.

    Meanwhile, people who are owed Income tax refund were told to go take a hike. You have to love the irony; if we don't pay our taxes, we get dinged with huge penalties and interest; when the Government can't pay, TOUGH LUCK.

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by chevydriver1123 View Post
    First state in the country to go down, I wonder which one is next. Im going to put my money on mine.
    I would put my money on any State Government that is infested with Democrats. New York might go after Michigan.

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by Captain America View Post
    There is the million dollar question. It seems to me to be a Catch-22. In order for those guys to cut spending, they first must get elected. To get elected they have to suck up to the people who are voting. It's a spiraling nosedive combination.

    It might be a good time for them to start taxing pot.
    This is the risk we are now in from the Federal side; once you implement welfare and Socialist policies, it is nearly impossible to get rid of them and if you do, there is revolt.

    Look to France if you want to see the future of America with Obama and the mentally challenged Democrats infesting Congress in charge.

    Sarkozy is having to humble himself to the Unions as we speak in a desperate effort to prevent massive strikes and demonstrations. What is the BIG commotion, wage hikes and keeping their benefits.

    Pandora's box is about to open; common sense will not prevail.

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    Re: California goes broke, halts $3.5 billion in payments

    perhaps it would be prudent to rethink the $10-20 billion high-speed train CA voters approved in november?

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by americanwoman View Post
    It blew my mind when I saw those on a doc on MSNBC. To think they actually have those and fund them with taxpayers money is an outrage.
    You know what's even sadder is that the organizations that run these legalized heroine dens get all upset when neighborhoods don't want one going in. One night on the six o'clock news they had this scabby heroine junkie on crying about how he didn't understand why a neighborhood wouldn't welcome a junkie being "responsible with his habit".

  10. #20
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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by emdash View Post
    perhaps it would be prudent to rethink the $10-20 billion high-speed train CA voters approved in november?
    That may need to be re-looked at but California, especially southern California, has terrible, terrible, public transportation system. I would be hesitant to take out any money focused on improving it.
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
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