Is $24.3 Billion Financial Deficit a Real Cause to worry for Schwarzenegger? »
Posted By WikiMap 4 months ago in NewsCalifornia's governor, Arnold Schwarzenegger, has declared California to be in fiscal emergency. California is suffering from a financial deficit causing Schwarzenegger to order the closure of state offices for three days a month to save cash. The act of ordering non-work days to save money is called a furlough.
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Klarissa4 months ago
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years ago California had vouchers several years in a row. We survived. I hope that the legislature is not getting paid.
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We need to get rid of all of those advisory groups - they each have a meeting place, travel and board and food allowances, a secretary, and sometimes a staff, and storage space for documents. Probably a PR person too??
Most of the time they sit around and talk when the people WE pay for, the government employees are just working right along as usual.-
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CaptainLucid4 months ago
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"and storage space for documents. "
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Yes among other things we can't afford to hold onto the evidence of republican wrongdoing. I'll pass the hat and we will use the money to rent a storage locker for the evidence no charge to the state.
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Goppy4 months ago
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calitennflo4 months ago
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2008-US census reported the population of California was...36,756,66. This is roughly $925.00 each...and a good majority of that could have been avoided by not starting the domino effect putting the homeless in jail...while someone was building the shelters...then over hiring the police forces....especially the ones in Los Angeles County.
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beavis617bComment removed: Retracted by user7 Replies
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eagleman44 months ago
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American Indian here- Oglala Sioux Registered & Tribally enrolled OST 15287
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Our leaders were self less, devoted, focussed and truthful. They did not line their pocketa. We had a different religion unlike you white people. Ours was based on Nature's truth as created by the Bountiful Creator- The Great Spirit. Yours is from a bunch of Arabs living 3000 years ago and on up the line. A controlling Church was also pretty heavy. Now- we see your results. We are going back to our old religion and waiting for Mother Earth to kick your dumb asses! -
mikescholtesComment removed: Hard Banned1 Reply
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dxxy4u4 months ago
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REMEMBER, the Titanic wasn't raised overnight. I told my co-workers some years back,"wait and see whats gong to happen when people start maxing out their credit cards. They were buying with these cards like there was no tomorrow. They are MAXED now my friends, and the Economy is dead in the water. The only way to get things going is for these Financial Companies to start issuing million of these Credit Cards, with 5% Interest, and a 5 to 10 thousand dollar limit, will get us up and running in no time. It will go three times as far as the money given to the banks. Right now Wall Street is making money, not a killing, but good enough to not worry about us the consumer too much.
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nostalgia4 months ago
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70% of our economy is based upon consumer spending. That is not sustainable
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It looks like people are starting to wake up and realize personal debt is not a good thing
Amid Recession, U.S. Savings Rate Hits Highest Mark Since 1993
The Commerce Department reported Friday that consumer spending rose 0.3 percent last month, in line with expectations. Meanwhile, the savings rate that had hovered near zero in early 2008 surged to 6.9 percent, the highest level since December 1993.
While the renewed focus on savings will help households stabilize their finances after a years-long credit binge and reduce U.S. dependence on Chinese investment, the lack of spending could restrain economic growth in the coming years, Lyle Gramley, a former Federal Reserve governor who is now a senior economic adviser with New York-based Soleil Securities Corp. told Bloomberg.
"There's been a fundamental change in people's behavior," he said. "It will affect the economy for years."
http://www.pbs.org/newshour/updates/business/jan-j...
Now maybe the government will wake up and realize that to be prosperous we need to produce and export NOT consume and import
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TonyByron4 months ago
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California seemingly walked into its budget fiasco with eyes wide shut.
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Californians (God Bless 'em) have turned their state into the largest welfare/nanny/union-feeding government in the nation. Adding to their burden is the huge number of illegals that they openly welcome and support.
California has been slapped in the face with the cold reality that no government can do everything for everyone and now they want a federal nanny to kiss their boo-boo.
The dems want lots of new taxes and fees and borrowing and a small cut in spending, repubs want just the opposite.
California should be a glaring warning to the Obama administration and citizens in general of the dangers of trying to do too much for too many.
I do feel for them but they must get their budget back into the real world and out of the liberal dream world. -
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ARMISTEAD4 months ago
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Governor "Terminator" should close down the entire state, call a Secession Convention, close off the borders, and impose a curfex from dawn to dusk throughout the state.
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If The Great Black Hope back in Washington won't financially assist, the hell with him and Washington. Take the state out of the Union. -
BaratheonComment removed: Spammer, Hard Banned
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jerry994 months ago
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The civil servant labor unions are the problem. Retirement pay for civil servants is 80-90% of their final pay. Comparable private company retirement is 35% at most. That is too much money and like the legacy cost of GM's retirees, is dragging down the state of Califonia and bankrupting it.
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wdfisher574 months ago
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California is really only getting what it deserves. The welfare state mentality currently in vogue is finally starting to crash and burn like it always has done wherever it was tried. The same thing is probable nationally when the bills finally come due for all these new programs, bailouts, subsidies and loan forgiveness strategies that keep coming out of the Democrats mouths. Lets face it, the Rust Belt has rotted away, and since we dismantled our manufacturing base back in the 80s, our economy has been running along on the back of bloated consumer spending. Now that jobs are tight, and the economy has tanked to record lows, there isn't a lot of space to manuever in to try and get us back on our feet. Currently the Obama administration is trying to backtrack and insinuate it was a slight misreading of the tea leaves back when the stimulas was being considered, and thats the reason for the worsening condition. Yeah right! Here is something he dneeds to understand well, "Talk is cheap", and the time for talking is past over. Its time for some action we can see results from. Anyone with common sense could see that we were being overexpended by this administration. All those promises made during the campaign are predictably being called due. Obama has already rewarded Detroit's union autoworkers, yet they continue to tumble towards the abyss, their plight isn't looking any brighter at this time either. Just where has all the stimulas money gone? Where are the new infrastructure projects? What is the status on the new green technologies and related green jobs they were supposed to generate to replace the old smokestack oil based ones? All I can see is a non stop whirlwind vacation spree by the Obamas. How many times does he have to include his wife on all these trips? Can't he survive on his $4000000 salary and free room and board in the WH, without having to constantly subsudize his vacations with taxpayer dollars while a very significant part of this country is currently facing the hard choices that he and his ilk in Washington have done with all their decades of social meddling? I can only hope that cooler heads prevail to limit the damage of anymore of this radical spending we are being forced to witness and ultimately pay for down the road. Its been six months and GW Bush hasn't been responsible for any of the new debt we've incurred. Its time Obama understood what is required from the job of President. His constant campaigning for office needs to cease and he needs to try and do what he was elected to do.And as a final comment, the US media needs to start shooting straight with the US public about what all these changes are costing us and our future generations who will likely benefit very little when their taxes are paying for all this reckless spending.
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wdfisher574 months ago
This comment is below the standard viewing threshold View It »
California is really only getting what it deserves. The welfare state mentality currently in vogue is finally starting to crash and burn like it always has done wherever it was tried. The same thing is probable nationally when the bills finally come due for all these new programs, bailouts, subsidies and loan forgiveness strategies that keep coming out of the Democrats mouths. Lets face it, the Rust Belt has rotted away, and since we dismantled our manufacturing base back in the 80s, our economy has been running along on the back of bloated consumer spending. Now that jobs are tight, and the economy has tanked to record lows, there isn't a lot of space to manuever in to try and get us back on our feet. Currently the Obama administration is trying to backtrack and insinuate it was a slight misreading of the tea leaves back when the stimulas was being considered, and thats the reason for the worsening condition. Yeah right! Here is something he dneeds to understand well, "Talk is cheap", and the time for talking is past over. Its time for some action we can see results from. Anyone with common sense could see that we were being overexpended by this administration. All those promises made during the campaign are predictably being called due. Obama has already rewarded Detroit's union autoworkers, yet they continue to tumble towards the abyss, their plight isn't looking any brighter at this time either. Just where has all the stimulas money gone? Where are the new infrastructure projects? What is the status on the new green technologies and related green jobs they were supposed to generate to replace the old smokestack oil based ones? All I can see is a non stop whirlwind vacation spree by the Obamas. How many times does he have to include his wife on all these trips? Can't he survive on his $4000000 salary and free room and board in the WH, without having to constantly subsudize his vacations with taxpayer dollars while a very significant part of this country is currently facing the hard choices that he and his ilk in Washington have done with all their decades of social meddling? I can only hope that cooler heads prevail to limit the damage of anymore of this radical spending we are being forced to witness and ultimately pay for down the road. Its been six months and GW Bush hasn't been responsible for any of the new debt we've incurred. Its time Obama understood what is required from the job of President. His constant campaigning for office needs to cease and he needs to try and do what he was elected to do.And as a final comment, the US media needs to start shooting straight with the US public about what all these changes are costing us and our future generations who will likely benefit very little when their taxes are paying for all this reckless spending.
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