Article

2009-12-26 Economy

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Posted by Fred 2009-12-26 00:14|| || Front Page|| [1 views ] Top

#1 Note there was no mention of cutting programs other than welfare? State funded Medical research could be one that could go?

Posted by tipover 2009-12-26 02:57|| 2009-12-26 02:57|| Front Page Top

#2 CA has been relying on the pre-2009 Bernie Madoff financial model. When the top 3% pay half the CA income tax, any hiccup will cause a similar crisis.

Posted by ed 2009-12-26 06:37|| 2009-12-26 06:37|| Front Page Top

#3 As an aside, there is a downright funny conspiracy theory making the rounds right now, that Canadian military equipment likely going to Afghanistan from the Port of Seattle, is instead going to California in case there is a massive social collapse there.

Yeah, I know, more holes than Swiss cheese, but still.

Posted by Anonymoose 2009-12-26 08:17|| 2009-12-26 08:17|| Front Page Top

#4 Sure Arnold, but put them in receivership, return to territorial status, lose the vote of Senators and Representatives in Congress [but get to keep the federal income tax - see the residents of the District of Columbia about the one], and have a federally appointed territorial governor till the state draws up a new Constitution that includes provisions for living within their own means requiring both statewide popular vote and Congressional approval to full return to State status.

See if they'll swallow that one.

Posted by P2k on vacation 2009-12-26 08:37|| 2009-12-26 08:37|| Front Page Top

#5 Condition of cash should be the dismemberment of California into five states, Northern Caliphornia, San Franistan, Central Valley, Sierra and SoCal. Inland Empire gets to choose whether it wants to be part of SoCal or Sierra.

Posted by Nimble Spemble 2009-12-26 08:56|| 2009-12-26 08:56|| Front Page Top

#6 Something along the lines of Barry's 57 state solution I take it?

Posted by Besoeker 2009-12-26 09:00|| 2009-12-26 09:00|| Front Page Top

#7 Problem is, then instead of 2 Senators they will have 10.

Posted by CrazyFool 2009-12-26 10:00|| 2009-12-26 10:00|| Front Page Top

#8 Instead of 2 radicals you'd have 3 or 4 radicals and 6 or 7 conservatives. Much improves the odds. And if Texas then exercised its option, the nation might be safe.

Posted by Nimble Spemble 2009-12-26 10:09|| 2009-12-26 10:09|| Front Page Top

#9 Who will get to file banruptcy first? The US or California.
Arnold should encourage all California medicare recipients to move to Nebraska (one-way bus ticket vouchers should do the trick).

Posted by airandee 2009-12-26 10:18|| 2009-12-26 10:18|| Front Page Top

#10 Any progress on the San Andreas Continental Drift project?

Posted by ed 2009-12-26 11:21|| 2009-12-26 11:21|| Front Page Top

#11 During the 2008 election there were about 10 really expensive initiatives on the ballot even though anyone who had successfully completed pre-algebra could see that state finances were headed down the toilet. One that passed mandated that the state issue $10B of junk bonds to back a bullet train from LA to SF. They are now saying that they need $60B and that the ticket prices will have to be subsidized to compete with South West - there is no talk of pulling the plug.

Posted by Super Hose 2009-12-26 12:07|| 2009-12-26 12:07|| Front Page Top

#12 $10B of junk bonds to back a bullet train from LA to SF. They are now saying that they need $60B and that the ticket prices will have to be subsidized to compete with South West -

This is what the Chinese have just got for $15B. The fastest train in the world.

Posted by tipper 2009-12-26 14:00|| 2009-12-26 14:00|| Front Page Top

#13 And if Texas then exercised its option, the nation might be safe.

For those of you who may not be aware of Nimble's reference, under the terms by which Texas joined the US in 1845 there was a proviso under which Texas could at some later date split itself into four new states. However, that clause may (stress the may)be invalid for two reasons.

First, although Texas may make the request, the US Constitution says that new states may be created out of existing states ONLY if the state in question and Congress approve it. And sadly, I cannot possibly see any Congress approving any arrangement that would permanently alter the balance of power so drastically. Second, when Texas rejoined the Union after the Civil War, it did so under the traditional method as prescribed by the Constitution - which probably invalidated the original annexation agreement.

/Neat historical stuff

Mike

Posted by Mike Kozlowski 2009-12-26 14:18|| 2009-12-26 14:18|| Front Page Top

#14 Businesses and people with retirement income are fleeing the state in droves. The latest budget disaster is cause in large part because of plunging tax revenues below even relatively normal times. And the greatest joke of all, massive income and job losses in the breadbasket of America, the central valley. Unemployment is at 30-40% in places, and 25% of the smaller farms have closed...permanently. Why? not the recession/depression....water, and not just the drought, but the diversion of what little there is after 3 yrs of drought to the delta to protect the delta smelt, a 1 inch long fish. In the food banks and charity lines in the central valley, they are giving away food to illegal farm worker that was IMPORTED from China. Can you get government policy more f*cked up that this?
Now you see why we are bailing and as fast as we can get the house sold moving on.....

Posted by NoMoreBS 2009-12-26 14:23|| 2009-12-26 14:23|| Front Page Top

#15 Many state employees, especially in academia, have already taken what amounts to about a 10% pay cut in the form of furlough days. They have to take two or three days off per month without pay. Well, some of them might actually enjoy the time off. And if a college professor isn't in the classroom for a few days a month, that's a few days a month when he won't be doing any harm to the students. So it's not all bad news.

And besides, I rather enjoy the lighter traffic on the freeways.

The part I don't like is when I have to pay my taxes.

Posted by Abu Uluque 2009-12-26 17:24|| 2009-12-26 17:24|| Front Page Top

#16 Love that train, tipper. We're kinda behind in that area, aren't we?

Posted by Abu Uluque 2009-12-26 17:26|| 2009-12-26 17:26|| Front Page Top

#17 As Bloody Mary sang,

You gotta have a dream, if you don't have a dream,How you gonna have a dream come true?

Posted by Nimble Spemble 2009-12-26 17:29|| 2009-12-26 17:29|| Front Page Top

#18 and not one word of the six million to illegal aliens.

Posted by HammerHead 2009-12-26 18:22|| 2009-12-26 18:22|| Front Page Top

17:01 Steven
00:02 Redneck Jim
23:40 Redneck Jim
23:31 Redneck Jim
23:19 Redneck Jim
23:16 Redneck Jim
22:57 Redneck Jim
22:40 Cromert
22:20 lord garth
21:36 Frank G
21:29 Asymmetrical Triangulation
21:24 Uncle Phester
21:15 49 Pan
21:14 Frank G
20:48 trailing wife
20:12 Mike Hunt
20:11 lotp
20:08 JohnQC
20:07 Mike Hunt
20:02 Frank G
19:57 JohnQC
19:54 trailing wife
19:41 lord garth
19:40 JohnQC