Engineering California's Economic Collapse »
Posted By jovial 2 months, 3 weeks ago in Business & Finance
California, a state, which, at $1.8 trillion , has the world's eighth largest economy, now finds itself at the edge of an economic abyss.
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jovial
Grew up In Brooklyn. Joined the Navy in 1976 stayed in 10 years. Aircraft Electronics tech. Worked for Major Govt. contractor then settled in California ...
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jovial2 months, 3 weeks ago
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FTA:
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"Despite Governor Arnold Schwarzenegger's draconian cuts to health care and education of more than $15 billion, purportedly to close a $26.3 billion gap in the state's finances, despite a pending 32% increase in student tuition at all University of California campuses and three "furlough" days per month in which state employees are forced to stay home without pay, California now faces a 2010 budget deficit estimated to range from $21 billion to $25 billion."
Are the Republicans purposely trying to kill California? -
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hyperbola2 months, 3 weeks ago
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California is simply suffering from the same kind of oligarchical corruption as the rest of the country. One wonders how much longer the "peasants" will accept class warfare by the super-rich without a violent reaction.
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FTA:
"""Ironically, at the height of this manufactured crisis, on May 17, 2001, Arnold Schwarzenegger took part in a private meeting at the Peninsula Hotel in Beverly Hills with Enron CEO Ken Lay and Michael Milken, the infamous "Junk Bond King" who, in 1989, was indicted on 98 counts of racketeering and securities fraud. According to Greg Palast, a 34 page Enron internal memorandum revealed that the true purpose behind the meeting and subsequent Recall was Lay's desire to head off an unfair business practice lawsuit brought by then Democratic Lt. Governor Cruz Bustamante. The suit sought to recoup some $9 billion from the rapacious energy traders.
While the deception and Schwarzenegger's celebrity status permitted the Republican Party to capture the governor's mansion, and while this permitted the Republicans to, for example, stack the U.C. Board of Regents with well-connected individuals bent on privatization of the U.C. system,* Democrats remained firmly in control of both the California Senate and Assembly, yet powerless to prevent Republicans from carrying out their radical privatization agenda due to the 2/3 rule which permitted the Party of No to simply stonewall, refusing to pass any budget that was not favored by wealthy corporations and individuals....""-
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jimce332 months, 3 weeks ago
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"California is simply suffering from the same kind of oligarchical corruption as the rest of the country. One wonders how much longer the "peasants" will accept class warfare by the super-rich without a violent reaction."
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If you include the left/democrats, I agree with you.
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miklkit2 months, 3 weeks ago
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This started with the energy deregulation bill written by ex Governor Pete Wilson. No one saw the poison pill in it that allowed the energy companies to rape this State to the tune of $11,000,000,000 or more. Then Governor Gray Davis had the State in an ambitious plan to increase energy production by building more plants and getting our natural gas from Canada. When the bogus "energy crisis" hit and a recall was pushed, all new construction was stopped, and the rolling blackouts started. The rape of California has continued through the years with 22% of all casualties in Iraq being Californians. This is what the republicons do to those who oppose them.
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beavith12 months, 3 weeks ago
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convenient to blame the right, isn't it?
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maybe its just as simple as the politicians can't say 'no' and try to please all the interest groups until, now, they've lived beyond their means for so long, there's no way to save themselves.
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cowboygrandpa2 months, 3 weeks ago
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We were sold down the river by all the greedy politicians from both parties.
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Tax and spend, cut taxes and spend, protect the wealthy in both parties and screw the middle class and working poor.
Keep telling the poor on welfare not to wworry uncle Calif. government will take care of you.
Pass laws that favor financial corporations over manufacturing and construction that actually lead to growth industries.
This is not what we fought for, it is the contemptable favortism of the wealthy for the wealthy. -
rwrnaeComment removed: Hard Banned
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Bobbieinca2 months, 2 weeks ago
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California is broke because of too many welfare recipients. The liberal idiots think Arnie is a republican. HAHA. He is married to Maria Shriver, a direct Kennedy relative. All of the Kennedy's are and have always been hard core multimillionaire liberal democrats. Arnie is a democrat posing as a republican! You liberals can spin this LIE all you want. The truth is that welfare and democrats are bankrupting California and Obama is bankrupting the whole country.
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