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California on 'verge of system failure'

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posted on Jun, 18 2010 @ 11:51 PM
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California on 'verge of system failure'


www.theglobeandmail.com

It’s a story that’s being repeated all across California – and throughout the United States – as cash-strapped state and local governments grapple with collapsed tax revenues and swelling budget gaps. Mass layoffs, slashed health and welfare services, closed parks, crumbling superhighways and ever-larger public school class sizes are all part of the new normal.

California’s fiscal hole is now so large that the state would have to liberate 168,000 prison inmates and permanently shutter 240 university and community college campuses to balance its budget in the fiscal year that begi
(visit the link for the full news article)




posted on Jun, 18 2010 @ 11:51 PM
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Is this an ominous sign of what's to come?

The economic situation and job scene has not been doing any upswings, despite the gov pie-charts and numbers manipulators rose-colored glasses reports.

So how exactly Cali ( and many other states ) are going to get out of this, other than taking a massive hand-out from Uncle Sam, or as was tossed around in this article-possibly defaulting on their debt, is beyond me.

This whole situation is completely surreal, but at the same time not surprising with the idiocy in leadership and the way things have been set up.

Crazy times...

www.theglobeandmail.com
(visit the link for the full news article)



posted on Jun, 19 2010 @ 12:01 AM
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geesh! someone thier is THE worst accountant ever hiredd, i'll tell you that!! either that or the entire state doe not know how to handle money* spending it on re enginnering streets highways when theirs nothing wrong witht hem in the first place, instead of just maintaining them*
What now, CA will ask congress for a mutli million dolalr bailout al at taxpyers expense. makes ya wonder, if the reason BErnenke admittie to printing over a trillion $ off hte record, is connected to things like this. all planned out*


+18 more 
posted on Jun, 19 2010 @ 12:03 AM
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California is the prototype of what well happen to every other Democratic states... It is like a crystal ball. Liberal spending and piss poor leadership is gonna catch up with them.
I'm sure they already burned through the Stimulus money they got, that was to go for shovel read jobs... What a crock.


+9 more 
posted on Jun, 19 2010 @ 12:14 AM
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Damn glad to see those socialistic scumbags in CA are about to reap what they sow.

They deserve each and every ounce of pain they are about to experience.


+2 more 
posted on Jun, 19 2010 @ 12:17 AM
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not to mention CA has 34 State owned buildings
up for sale to the highest bidder. And one of
those buildings is the state capital. wow

It seems that all state employees and Ahnuld
himself will be out of work very soon.
Can somebody say RIOTS !!!!



posted on Jun, 19 2010 @ 12:29 AM
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off-topic post removed to prevent thread-drift


 



posted on Jun, 19 2010 @ 12:40 AM
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California on 'verge of system failure'


What is happening in California, could be the start of what_will happen to the rest of the U.S.

And you(s) really think that Congress and other Goverment people would allow the U.S to go bankrupt? No, because they would rather would_want to have a world war to help the MASS AMOUNTS of jobless people to help to build those war machines.

If other States in the U.S will show up on the main_news about on the 'verge of system failure'... Then you Will_Know that WW3 will begin.



posted on Jun, 19 2010 @ 12:49 AM
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Ah the fruits of socialist democracy/fascism and fiat currency! Bring it down baby bring it down!!! As much as I hate to say it let it all come crashing down all across this land! My state is having the same troubles but not as advanced as CA as we have less socialism here in Idaho, still we have our share and more then we want.



[edit on 19-6-2010 by hawkiye]


+17 more 
posted on Jun, 19 2010 @ 12:50 AM
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California is suffering the effects of the rampant greed that has brought virtually the entire world to the brink of economic collapse.


It is not a matter of Conservative versus Liberal, or Democrat versus Republican. Nor even Citizen versus "Illegal".


It Is and Has Been a matter of Short-sighted Voters allowing themselves to be Fooled and Cajoled by ambitious scoundrels rising to positions of power and influence.


We are all too willing to believe the aspiring candidate who strokes our greed with promises of Tradition, Progress and Prosperity, while, at the same time assuring us that His/Her plan won't raise taxes, won't cost us an extra cent.


We want to believe in the impossible, so we elect the Irresponsible.


Over and over again.


We should know better, but we do it anyway.



There is no simple, easy solution for California, perhaps not for any state or country.


We bought it all on credit, the bill(s) have come due, and we just don't have any money left.



In the immortal words of Betty Davis:

"Fasten Your Seatbelts. It's Going to Be A Bumpy Flight!"



posted on Jun, 19 2010 @ 01:16 AM
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So California will actually get some of its money back after years and years of supporting other states? Sounds fine to me. I have no problem with it. The Federal government owes California. You'd rather they give banks billions so a few wealthy guys in nice offices in NYC can get rich. I guess that's money well spent, right?



posted on Jun, 19 2010 @ 01:19 AM
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Actually there is a solution for California. It's called a bailout. If they can bail out the rich bankers, they can bail out California. If they Federal government isn't going to stop illegal immigration, when it is their job to do so, then they need to pay for all these illegals bankrupting the state of California. Illegals are the problem. That's the bottom line.


+5 more 
posted on Jun, 19 2010 @ 01:24 AM
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Originally posted by brainwrek
Damn glad to see those socialistic scumbags in CA are about to reap what they sow.

They deserve each and every ounce of pain they are about to experience.


California pays more into the system than it receives. Why does California deserve to suffer when it's been taking care of everyone else for all these years? What a ridiculous thing to say. If the Federal government doesn't bail out California, and Federal government does everything within its power to increase illegal immigration, California should just stop paying into the system. You've been leeching off of us for too long. Time to cut the cord. You have always needed us far more than we needed you. What are we, like the seventh largest economy in the world? Get a grip.



posted on Jun, 19 2010 @ 01:30 AM
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Originally posted by Incubus

Originally posted by brainwrek
Damn glad to see those socialistic scumbags in CA are about to reap what they sow.

They deserve each and every ounce of pain they are about to experience.


California pays more into the system than it receives. Why does California deserve to suffer when it's been taking care of everyone else for all these years? What a ridiculous thing to say. If the Federal government doesn't bail out California, and Federal government does everything within its power to increase illegal immigration, California should just stop paying into the system. You've been leeching off of us for too long. Time to cut the cord. You have always needed us far more than we needed you. What are we, like the seventh largest economy in the world? Get a grip.


LOL! talk about clueless... Sigh! You have no idea what you're talking about to the point it is not even worth it to try and explain it to you...

[edit on 19-6-2010 by hawkiye]



posted on Jun, 19 2010 @ 01:41 AM
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Without going for federal bailouts, California should cut the spending, especially downsizing state and local workers and/or their paychecks. The unions are essentially destroying what should have been an otherwise healthy capital market.



posted on Jun, 19 2010 @ 01:42 AM
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Originally posted by Incubus
Actually there is a solution for California. It's called a bailout. If they can bail out the rich bankers, they can bail out California. If they Federal government isn't going to stop illegal immigration, when it is their job to do so, then they need to pay for all these illegals bankrupting the state of California. Illegals are the problem. That's the bottom line.


Umm, NO! We USED to be taught in America that two wrongs do not make a right.

I agree that the feds should enforce the border laws. From busting business that hires illegal workers to policing the border, without intergovernmental interference. All parts of enforcement should be applied.

Cali has hurt is self more from illegal immigrants than the fed gov't has hurt it though. All of your 'Sanctuary Cities' encouraged the congregation of those in America illegally. I am not a resident of Cali and I would not give you a wooden nickel to solve your budget crisis, until the state, counties and towns get their priorities in check. Then I would be more willing to help. I don't want to control you, I just don't want to spend my money to help a state that spends it's money on welfare, illegal immigrants and uses other states resources instead of their own because of environmental concerns. Among other things I dislike about Cali.

There are some things that I really like about Cali as well. I do like the social freedoms allowed in the state. I love the beauty of the state and how many vastly different climates you can find. One word, 'redwoods.'



No bailout from me. Cali needs to learn fiscal responsibility. You are cut off from your Visa black card. IMO


+4 more 
posted on Jun, 19 2010 @ 01:46 AM
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Long ago there was a saying in the US that "Whatever ain't bolted down rolls West." The implication was that, for good and for ill, California was the loosest, nuttiest, flakiest, most far-out manifestaion of the American experience.

Unfortunately, the state's economic antics show this lack of forsight, pragmatism, and grit all too clearly. Ominously, to use another saying, "As goes California, so goes America." The state has always been a canary in a coal mine and a harbinger of trends that would sweep the nation, whether cultural or physical. Examining California as an augerer, the picture ain't pretty for the rest of the union, either.



posted on Jun, 19 2010 @ 01:51 AM
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reply to post by Incubus
 





comedy gold right there.

CA is in the mess they are in because of their idiotic leftist fiscal policies. They dug their own grave, now its time for them to rest in it.

The U.S. doesnt need CA. In fact, we would all be better off if CA broke off and floated away, as long as you took all of your politicians, illegal aliens, and hippies with you.



posted on Jun, 19 2010 @ 01:52 AM
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reply to post by Incubus
 


Do you understand, that it`s not the government that will bail them out? It will be the tax payers all across this country that will end up footing the bill. Bailout money isn`t free money, it`s money that will be charged to those who pay income tax.



posted on Jun, 19 2010 @ 01:55 AM
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reply to post by DimensionalDetective
 


If California had ever adopted a balanced budget amendment it wouldn't be in this predicament!

Simple economics are well, pretty simple.

Give away too much and soon you are in an economic bind and that is the state of California!



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