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California goes broke, halts $3.5 billion in payments

danarhea

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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.
 
Services and payments will resume once state legislators come to an agreement on the budget.

Oh, let's overlook that, so we can rave about how California is BROKE!!!
 
Wow, you mean the government can't afford to pay for all those "liberal" social services?

I'm just.... astounded, I tell you! Amazed! I never woulda thunk it.
 
It's probably a bit more than that, but certainly those programs were not of any help. The whole of our governments, State and Federal, have been running themselves improperly and inappropriately for some time. But there was only a vocal few speaking out about the real problems. The rest, on all sides, were sitting there bitching out of one side of their mouth with their hands stretched out for whatever they could get from the government. Suckling it, becoming dependent upon it. Republocrats sold out and their constituency happily followed. This is the America the lazy made, those whom didn't want to do anything for themselves. They authorized government growth, the allowed it to make program after program, spend more money, take more power. In the end...we sorta deserve this. This is what happens when we don't do our duty as freemen, when we don't act to keep this Republic.
 
Wow, you mean the government can't afford to pay for all those "liberal" social services?

I'm just.... astounded, I tell you! Amazed! I never woulda thunk it.

And you know what the answer will be? It will be to raise taxes, and when the economy starts rolling again, they'll get a surplus or something close to it, and they'll say "Hey, lets provide even more social services for things we couldn't get to before" and then they'll go broke again in the next down turn, and the answer will be to "raise taxes".....wash,rinse,repeat. Government is like an anaconda. It slowly squeezes you to death.
 
The state has also put a hire freeze on many state jobs and is taking up to 30 days to pay tax refunds, if at all. There is talk of refunds being turned into a credit instead.

FYI: California has the 8th largest GDP in the world and $700 billion more then the second highest state in the US (Texas).
 
Texas already has a problem with illegal aliens. Does this mean we're going to have a flood of legal aliens (because people from Kalifornistan are weird and alien)?

I mean, why don't these guys just cut spending? Is it that hard?
 
Texas already has a problem with illegal aliens. Does this mean we're going to have a flood of legal aliens (because people from Kalifornistan are weird and alien)?

I mean, why don't these guys just cut spending? Is it that hard?

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. :rofl
 
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.

Arnold won't agree to a budget with a bunch of wasteful spending programs so they can't reach a budget. I say "Good for him!!!!"

I would rather wait a while to get my tax return from the state than to just have them settle on some wasteful budget.

I am sure the food stampies won't like this though.
 
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.
 
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.
 
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.
 
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.
 
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. :rofl

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.
 
perhaps it would be prudent to rethink the $10-20 billion high-speed train CA voters approved in november?
 
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". :roll:
 
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.
 
Can we sell San Francisco to the highest bidder? CA could make a lot of money off the sale.
 
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