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Thread: Good news, California: Surplus is $2.4 billion

  1. #21
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by polgara View Post
    According to the California debt clock, they are over $418 billion in debt. How they can say they have a $2.4 billion surplus is beyond my understanding, but good for them! Sadly, we all know what happens to surpluses...they are spent, not saved. And usually what they are spent on costs more than the surplus they have, so the difference just gets added to the debt. See how easy it is to live in California? Woo Hoo!!

    Greetings, Keymanjim.
    what is the repo man coming to collect on that debt and when is it supposed to be payed
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    what is the repo man coming to collect on that debt and when is it supposed to be payed
    People have been speculating for quite a while that California will eventually ask Washington for a bailout. Since many other states also have large debts, I don't see it happening, since we just don't have enough money to bail everyone out. The ironic thing to me is that California has not curbed spending to match income, so it sure sounds like they are following DC's lead! Maybe China will be interested in swapping some of what we owe them for choice California properties? Japan did that some years ago, as you recall.....

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by polgara View Post
    People have been speculating for quite a while that California will eventually ask Washington for a bailout. Since many other states also have large debts, I don't see it happening, since we just don't have enough money to bail everyone out. The ironic thing to me is that California has not curbed spending to match income, so it sure sounds like they are following DC's lead! Maybe China will be interested in swapping some of what we owe them for choice California properties? Japan did that some years ago, as you recall.....
    has california ever asked to be bailed out
    "If you can't stand the way this place is, Take yourself to higher places!"
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by radioman View Post
    Hooray for Cali!!!
    Budget problems worked out with a combo of spending restraint and new revenues.
    This seems like great news.
    I expect the usual suspects will arrive momentarily to explain why this is really bad news.
    A small percentage keeping the tax coffers full while the majority don't pay jack #### of their share in taxes but use most of the services.

    There's really no surplus, it's already spent, the Democrats just haven't decided how much of the surplus will go to pay raises for state union employees and to the schools which is actually is propping up the teachers retirement plans. That's where most of the money to the schools go.

    If there was a real surplus why are the Democrats planning on raising the car registration fees/taxes ?

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    has california ever asked to be bailed out
    Yes.

    The state has been asking the federal government for decades to bail out the state by being reimbursed for incarcerating the illegal aliens from Mexico.

    One Los Angeles County supervisor has asked that the county be reimbursed for educating Mexico's children and providing free health care for their families.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    has california ever asked to be bailed out
    I don't know, but that hasn't stopped the gleeful speculation that they might! How can a state live under a Damocles sword of a $400+ billion dollar debt? How much debt is too much? Are there plans to reduce the debt?

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by polgara View Post
    People have been speculating for quite a while that California will eventually ask Washington for a bailout. Since many other states also have large debts, I don't see it happening, since we just don't have enough money to bail everyone out. The ironic thing to me is that California has not curbed spending to match income, so it sure sounds like they are following DC's lead! Maybe China will be interested in swapping some of what we owe them for choice California properties? Japan did that some years ago, as you recall.....
    Hey Pulgara

    I remember when Japan use to own almost all of the high rises in downtown Los Angeles. I think that was back in the 80's.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    has california ever asked to be bailed out
    Let me look, I seem to recall the answer is yes.

    They've asked a few times in my lifetime, the latest is:

    Wall Street Journal:

    Republican Gov. Arnold Schwarzenegger asked for $6.9 billion in federal funds in his state-budget proposal Friday and warned that state health and welfare programs would be threatened without the emergency help.

    Source

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by polgara View Post
    I don't know, but that hasn't stopped the gleeful speculation that they might! How can a state live under a Damocles sword of a $400+ billion dollar debt? How much debt is too much? Are there plans to reduce the debt?
    some american's find the thought of another american state failing gleeful?

    how is that anything but unpatriotic.
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  10. #30
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by clownboy View Post
    Let me look, I seem to recall the answer is yes.

    They've asked a few times in my lifetime, the latest is:
    so you are blaming a republican governor for the problems in california back in 2010?
    "If you can't stand the way this place is, Take yourself to higher places!"
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