Official says Calif. could be broke in 2 months

[peejay 327]

DO RE MI

by Woody Guthrie

Lots of folks back East they say, leaving home every day

Beating the hot old dusty way to the California line

Cross the desert sands they roll, getting out of the old dust bowl

Think they're going to a sugar bowl, but here's what they find

Now police at the port of entry say,

"you're number fourteen thousand for today

Oh, if you ain't got the do re mi, folks, you ain't got the do re mi

Why you better get back to beautiful Texas, Kansas, Georgia, Tennessee

California is a garden of Eden, a paradise to live in or see

But believe it or not, you won't find it so hot

If you ain't got the do re mi

You want to buy a house or a farm, that can't do nobody harm

Or take your vacation by the mountain or sea

Don't swap your old cow for a car, you'd better stay right where you are

Better take this little tip from me:

Cause I look through the want ads every day

And the headlines in the papers always say:

Oh, if you ain't got the do re mi, folks, you ain't got the do re mi

Why you better get back to beautiful Texas, Kansas, Georgia, Tennessee

California is a garden of Eden, a paradise to live in or see

But believe it or not, you won't find it so hot

If you ain't got the do re mi

Official: Calif. could be broke in 2 months

State's chief financial officer issues warning as budget talks break down

The Associated Press

updated 12:02 a.m. CT, Tues., Dec. 23, 2008

SACRAMENTO, Calif. - California's chief financial officer warned Monday that the state would run out of money in about two months as hopes of a Christmas budget compromise melted into political finger-pointing by the end of the day.

Republican Gov. Arnold Schwarzenegger began the day on a cheerful note, suggesting that negotiations with Democratic leaders could lead to a budget deal as early as this week to help close the $42 billion shortfall that is projected through June 2010.

"Yesterday we sat there for hours and we worked through it step by step and we made some great progress," the governor said during a morning news conference in Los Angeles. "So we feel like if we do that two more times like that, I think we can get there ... before Christmas Eve or Christmas Day."

The thaw didn't last long, as legislative leaders later in the day criticized Schwarzenegger and indicated their work was done until the start of the new year.

The governor faulted lawmakers for "failing to take real action" in addressing the state's budget deficit but said he will continue working with them on a solution that includes spending cuts, new revenue and an economic stimulus plan.

Assembly Speaker Karen Bass responded by suggesting the governor should sign an $18 billion package Democrats sent to him last week containing both cuts and tax increases.

"The single biggest roadblock to having construction on the 405 (freeway) move forward is Arnold Schwarzenegger," said Bass, a Los Angeles Democrat.

Republicans, meanwhile, said they would not negotiate on a deal they believe to be illegal. The Democratic plan was pushed through on a simple majority vote, not the usual two-thirds vote for tax increases, which would require some GOP support.

"We cannot be a part of negotiating an illegal tax increase package that is a blatant attempt to silence California voters," Assembly Minority Leader Mike Villines, R-Clovis, said in a statement.

Charges of party politics

By the afternoon, Schwarzenegger spokesman Matt David said neither side had been willing to transcend party politics and special interests to make concessions.

"The Democrats want to block cuts to state government spending, and the Republicans want to block revenue increases because they have signed pledges to protect special interests," David said in a statement. "Legislators were sent to Sacramento to fix problems, but now what they're doing is making the situation worse."

If lawmakers fail to pass an updated budget plan, state Controller John Chiang said, his office will be forced to defer billions of dollars in payments or issue IOUs to state contractors. The instability of the banking industry has made borrowing money to bridge the gap an uncertain possibility, he said.

"The state's dire cash position not only jeopardizes and places at risk our ability to meet our financial obligations in a timely manner, it threatens our ability to respond to natural disasters and protect our communities from crime," Chiang wrote.

Also Monday, state employee unions filed labor complaints to stop Schwarzenegger's plans to furlough workers as a way to deal with the state's ballooning budget deficit.

Last week, he ordered all state employees to take two days off a month without pay or a similar salary cut to save $1.3 billion in the coming fiscal year. He also ordered state agencies to cut their payrolls by 10 percent.

The Schwarzenegger administration referred calls to the state Department of Personnel Administration.

"We have attempted to bargain under circumstances where there are no resources for pay increases, and that has made bargaining extremely difficult," department spokeswoman Lynelle Jolley said.

http://www.msnbc.msn.com/id/28359987

[Pinocchio Liberal 268]

Libruls ROCK!

[NickD 203]

Wisconsin is also over 5 billion bucks in debt, how can that be when we are already taxed to death. Legislators are going nuts trying to find more ways to tax and they claim we are receiving valuable services.

The only service I am aware of is picking up a half a bag of garbage each week, and wouldn't even be that much if they would let me burn it. Use to like to camp at our state owned camp grounds, but finding better rates at privately owned camp grounds, some very nice.

Have to pay taxes to the city, the township, the county, and the state not to mention the federal government! For what? And if I nail a board to my house, assessor comes to increase my taxes.

They claim they are not getting money back from the feds, but the feds are certainly digging deep into our pockets, and why are we sending them money if that money is supposed to be returned to us? Ha, they are talking about adding sales taxes to attorney fees, that went over like a lead balloon especially since the majority of our leaders are attorneys, and they sure know how to charge.

Feel it's time for a second revolution. We are really getting screwed.

[Ban Hammer 14,269]

now where is that crowd that crows about putting so much into the federal budget?

[Pinocchio Liberal 268]

Proof, the socialist experiment has FAILED!

[Pinocchio Liberal 268]

Bend over California!

SACRAMENTO, Calif. — Democrats were trying to break a weekslong impasse over California's multibillion-dollar deficit by making an end run around Republicans, offering a complicated mix of revenue cuts and increases that they said would raise billions without requiring two-thirds majority typically needed to raise taxes.

Meanwhile, a state panel that oversees loans for public works raised another alarm in the state's budget crisis by voting to stop financing nearly all infrastructure projects in California, halting nearly $4 billion in loans for everything from freeway interchanges and carpool lanes to classrooms.

Treasurer Bill Lockyer, the board chairman, had warned the Legislature last week that the unprecedented halt in funding would be necessary if lawmakers did not immediately address a $14 billion deficit in the fiscal year that ends in June. The hole is forecast to grow to $42 billion over the next 18 months.

Lockyer estimated previously that the frozen projects could cost California 200,000 jobs in every part of the state. Officials were still calculating the effect of Wednesday's decision.

The Democratic proposal would address $18 billion of the state's shortfall over the next 18 months through a scheme that would cut some taxes and raise others, as well as slash more than $7 billion in spending on health, education and prisons.

http://www.foxnews.com/story/0,2933,469166,00.html

[Trumplestiltskin 5,791]

Proof, the socialist experiment has FAILED!

I think all that proves is that your knowledge of the terms you (liberally) throw around is laughable.

[Pinocchio Liberal 268]

Proof, the socialist experiment has FAILED!

I think all that proves is that your knowledge of the terms you (liberally) throw around is laughable.

Your laughter will turn to tears soon enough.

[Trumplestiltskin 5,791]

Proof, the socialist experiment has FAILED!

I think all that proves is that your knowledge of the terms you (liberally) throw around is laughable.

Your laughter will turn to tears soon enough.

Alrighty then...

[Niels Bohr 72]

PD,

All conservatives are finger pointers. So, we already know it's useless to debate.

[Trumplestiltskin 5,791]

PD,

All conservatives are finger pointers. So, we already know it's useless to debate.

To be honest with you I don't think Marc's claim that California's economic woes represent the "failure" of "socialism" has anything to do with whether or not he is conservative, but rather has everything to do with his being ignorant about California's history and politics, and what socialism is.

[Ken y Leidys 20]

Proof, the socialist experiment has FAILED!

Um, we have a Republican governor. Have you heard of Arnold?

While I don't like paying more for gasoline and taxes, the Democrats plan would have possibly generated $9 Billion more in revenue, and that would have closed the budget loophole. I'm hoping something can be done about this soon, as my salary depends on it.

-Ken

[zqt3344 21]

Socialism is a failed theory that does not work at all. Show me one example of a financially sound successful socialist experiment!

California is failing because they elected a freaking moron as their leader that has no clue about what he is doing and cannot unite or lead the state, and I think it is ironic and so funny, this same opportunist that exploited the recall of a sitting governor for raising taxes to shore up their budget shortfalls or cut services was bounced out and in comes Arnnie with his bubbly sunshine and guess what, come to find out the guy he replaced was right on all this many years ago and now Mr Governator has to eat crow and do the same damn things that the Democrat governor before him did and now it is needed and ok and alright because the great Arnnie says so. What a joke this guy is, and I do not feel sorry for california they were so stupid to vote this fool in and now they get to pay the piper! Enjoy.

Proof, the socialist experiment has FAILED!

Um, we have a Republican governor. Have you heard of Arnold?

While I don't like paying more for gasoline and taxes, the Democrats plan would have possibly generated $9 Billion more in revenue, and that would have closed the budget loophole. I'm hoping something can be done about this soon, as my salary depends on it.

-Ken

[w¡n9Nµ7 §£@¥€r 123]

now where is that crowd that crows about putting so much into the federal budget?

if our citizens weren't being extorted by the irs and being made to pay more than their fair share, we'd have more money to run our own states.

[EstebanTrabajos 7]

now where is that crowd that crows about putting so much into the federal budget?

if our citizens weren't being extorted by the irs and being made to pay more than their fair share, we'd have more money to run our own states.

Hey Sonny!

You have a war to pay aight? Pay up and stop being so unpatriotic!