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Calif. ordering layoffs to cover $15.4B deficit

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posted on May, 14 2009 @ 06:03 PM
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Calif. ordering layoffs to cover $15.4B deficit


seattletimes.nwsource.com

SACRAMENTO, Calif. —

California Gov. Arnold Schwarzenegger said Thursday that thousands of state employees must be laid off and billions of dollars must be slashed from the budget to deal with a deficit that tops $15 billion and could widen again within days.

"I understand that these cuts are very painful and they affect real lives," Schwarzenegger said during a news conference. "This is the harsh reality and the reality that we face. Sacramento is not Washington - we cannot print our own money. We can only spend what we have."

The state approved billions in budget cuts and reve
(visit the link for the full news article)


Related News Links:
news.moneycentral.msn.com




posted on May, 14 2009 @ 06:03 PM
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This is getting way out of hand and very fast. I fear this is only the beginning and the proposal is way higher than was is being told.

If anyone has family/friends/relatives and they have not been informed about this then i suggest a quick email or phone is needed to inform them of the outcome.

After sitting back and reviewing across many nations the proposals put forward, i have found that across the world similar decisions are being handed down to the public with a similar tone. These decisions will only increase the crime rate across the board. People hold on to your hats, its going to get worse.

seattletimes.nwsource.com
(visit the link for the full news article)



posted on May, 14 2009 @ 06:38 PM
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I am going to say something that may seem utterly naive.

Isn't it a striking statement that our elected representatives, in our name, and under our 'mandate' expeditiously and decisively committed our tax dollars, in the hundreds of billions, to private banks, BUT they are not even considering doing it to save the millions of citizens of one of the States of our Union?

They 'gave' away our money, almost completely opposed by the population to the banks, because they were 'too big to fail.'

Is California not "too big to fail."?

Unbelievable. Foolish. If they put it to a plebiscite I would gladly vote that each bank, 'lose' 1/50th of the monies they received and said funds would be distributed equally to reconcile each state deficit. To me that would be a patriotic use of the money the IRS confiscates from the fruits of our labor each year.

[edit on 14-5-2009 by Maxmars]



posted on May, 14 2009 @ 06:45 PM
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reply to post by Maxmars
 


I think it makes it completey obvious to whom they are beholden and with whom they are more worried about.



posted on May, 14 2009 @ 07:41 PM
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reply to post by tristar
 


I'm very surprised California didn't work out an arrangement where they get Washington's printed money. This means that hyper-inflation may not arrive as quickly as anticipated, but the economy will look a lot worse by the end of the year as a result.

This is a good thing for California. They have been spending more than they have for decades and now by force are going to have to budget things.



posted on May, 15 2009 @ 01:50 AM
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Cutting peoples jobs, instead of cutting some of the inumerable social programs Calif has, especially for the Illegals.

Who woulda thunk it? Don't wanna lose that majority Latino vote.



posted on May, 15 2009 @ 02:00 AM
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Hahah I live in Orange County, CA. This state is a complete joke. They refuse to cut expenditures and want to keep raising taxes. The LA school system is a huge black hole of wasted money with the worst drop out rate and over paid Latino and black adminstrators.. This state spent around 50 billion in welfare and ~60 billion on education in one year. Something is very wrong with that picture. Middle class people especially small business owners are moving out. I'm getting out of here. We are taxed beyond belief in this #ty state. It's great if you're poor or illegal. This state will be nothing but rich and poor in a decade.



posted on May, 15 2009 @ 05:08 AM
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Originally posted by Maxmars
I am going to say something that may seem utterly naive.

Isn't it a striking statement that our elected representatives, in our name, and under our 'mandate' expeditiously and decisively committed our tax dollars, in the hundreds of billions, to private banks, BUT they are not even considering doing it to save the millions of citizens of one of the States of our Union?


Surely Washington would help its own fellow citizens, but unfortunately there are certain expenditures that take priority:


Reporting from Washington - President Obama on Thursday won decisive House approval for money to escalate U.S. military involvement in Afghanistan and Pakistan, but the victory obscured anxiety within his party about the course he is taking in the war-torn region.


You don't want a bad Taliban dude breaking into your house and steel your . . . whatever you have in your fridge.



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