White House says no to California budget help

Started by garbon, June 16, 2009, 03:12:26 PM

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Monoriu

Quote from: garbon on June 16, 2009, 10:22:09 PM
Quote from: Monoriu on June 16, 2009, 10:10:48 PM
2 years ago, Hong Kong received 3 dollars in taxes for every 2 dollars spent.  We put the extra money in savings.  Now, when revenue has dropped, we can maintain the same spending level without cutting services or raising taxes. 

California chose not to have a rainy day fund.  California will reap whatever it sows.  And it should.

Unlike Hong Kong, California likes to ensure humane standards of living for its citizens.

See what humane standards you guys can maintain when you are broke  :lol:

garbon

#16
Quote from: Monoriu on June 17, 2009, 01:10:19 AM
See what humane standards you guys can maintain when you are broke  :lol:

Better to have lived the good life for a little bit than never at all, Mr. 10 foot square box.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Monoriu

Quote from: garbon on June 17, 2009, 01:35:00 AM
Quote from: Monoriu on June 17, 2009, 01:10:19 AM
See what humane standards you guys can maintain when you are broke  :lol:

Better to have lived the good life for a little bit than never at all, Mr. 10 foot square box.

Somehow I think the living standards that you referred to can only be described as "humane" if they are sustainable  :P

CountDeMoney

Quote from: Neil on June 16, 2009, 07:26:55 PMThey are courageous, but stupid.  Obama's enormous ego will never allow any state who shuns him to survive.

Sorta like the blue state base closings after the 2004 election?

DontSayBanana

Quote from: garbon on June 16, 2009, 10:22:09 PM
Unlike Hong Kong, California likes to ensure humane standards of living for its citizens.

:yeahright: CA has the worst state budget in the country, and seeing as how somebody from NJ is telling you that, that's bad. As for the "you want the best, you pay for the best" argument, it should be noted that the California government is also directly responsible for a lot of the exorbitant cost of living.
Experience bij!

KRonn

Poor California; in a seriously bad situation. Seems to be the way many of our state, federal and local governments operate though, and Cali isn't the only one in such trouble.

Berkut

If only California public employee unions had Obama in their pocket like the UAW does, then California would become "too big to fail".
"If you think this has a happy ending, then you haven't been paying attention."

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The Minsky Moment

California is way past too big to fail.  It is too big to rescue.
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

Valmy

#23
Good.  The richest state in the union should not be getting the rest of our money.

We reserve that for our biggest corporations.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

garbon

#24
http://news.yahoo.com/s/ynews/ynews_ts418

QuoteAlmost every state is suffering from the effects of the recession, but not every state accounts for 12 percent of the national gross domestic product. According to AP, if California goes down, so goes the nation: California's annual $1.7 trillion economy is the world's eighth-largest economy and provides a significant chunk of tax revenue for the government; California alone funds many social programs for the entire nation.

I'm happy to report that the rest of America is going to get an invitation to our mandatory party. Please be on time. :bowler:
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Caliga

Jaron, you can come live in my basement.  I have a spare bedroom down there. :)
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DGuller

Oh, please, it's not like California would turn into Africa overnight.  At worst it'll become Mexico.

Valmy

Quote from: garbon on June 30, 2009, 01:40:32 PM
California's annual $1.7 trillion economy is the world's eighth-largest economy and provides a significant chunk of tax revenue for the government; California alone funds many social programs for the entire nation.

Well it is a state that's untouchable like Eliot Ness.

See we have all been blaming Washington for all our troubles when the real culprits were in Sacramento.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

KRonn

Such a wealthy state, huge economy, and still it found ways to go seriously into financial problems, possibly leading to default or bankruptcy. What a sad mess.... 

DGuller

Would bankruptcy cancel those ruinous propositions, sort of like bankrupt companies can cancel union contracts?  I would guess not, but maybe I'm wrong.