California approves Dream Act...California seeks $5billion Bridge Loan to pay bills Wow!

What more can you say about this mess in California. For those of you Californians caught between San Francisco and Los Angeles, I'm sorry for your burden.

First the gateway legislation

California Governor Jerry Brown signed into law on Monday a bill allowing illegal immigrants to receive privately funded scholarships to attend the state's public colleges and universities.

For the moment Illegal immigrants will qualify for private scholarships thereby denying the same funds to those who are here legally. Hmmm

A separate bill is up for consideration that would allow the illegal immigrants to qualify for publicly funded scholarships. One step at a time....

The new California law is fairly limited in scope, making undocumented students who qualify eligible for private scholarships. A separate bill under consideration in the legislature would allow illegal immigrants to seek publicly funded scholarships as well.

www.reuters.com...

We all know California has some problems managing its money so perhaps the Dream act is not in their best interest because it offers a safe haven to illegals who continue to drain the resources of a very limited state.

Case in point

California will borrow $5 billion today through a temporary loan as U.S. states make plans to cope with any credit-market disruption should lawmakers fail to raise the federal debt ceiling by the Aug. 2 deadline.

Proceeds from California’s bridge loan will help pay bills until the state can sell cash-flow notes that had been scheduled for late August

It's only $5 billion...

And who do they blame

“Given the uncertainty in Washington with the debt ceiling, the treasurer felt it was prudent to get a bridge loan,” said Tom Dresslar, a spokesman for California Treasurer Bill Lockyer. “We couldn’t have planned on the president and Congress taking us to the brink.”

The last Bridge Loan for $6.7 billion was in October 2010

California used a similar $6.7 billion bridge loan from JPMorgan Chase & Co. and five other banks in October, when a record 100-day budget impasse prevented Lockyer from issuing RANs. The state paid 1.4 percent on the October loan, or $6.7 million of interest, until it was repaid when Lockyer sold $10 billion of RANs at the end of November.

When you look at the details of the loan, it really is quite the scam. Its just one big cycle as people and businesses continue to flee California in ever increasing numbers. Revenue Anticipation Notes!! That's rich when you're a public entity who relies completely on tax revenue and no profit. How about notes issued based on promises to cut spending? Without that the cycle will never end.

California’s Lockyer had planned on borrowing about $5 billion through revenue-anticipation notes, or RANs, at the end of August to pay state bills until the bulk of tax revenue comes in later in the years. Without those short-term securities, the state may run out of cash, as it did in 2009, when it issued $2.6 billion of IOUs.

www.bloomberg.com...

Oh well just a strange combination of contradicting headlines that caught my eye. Sorry California.

I am sure california isnt alone with these stupid costs. Interest makes zero sense, other dumb things are taking out taxes from government payments to employees, and another question mark to me is when will we advance everything to where we wont need any more advancement, then what happens. To me its kinda happened with kitchen appliances and other small gadgets.

5 billion? That could have gone to help funding a boarder fence with a deadly current running through it, with guard towers manned with marksmen with long range rifles. Instead, this is how its used... giving parasites free education to help them parasite even better.

It should be obvious to even the average american idol watching prole, that the governments of most states and the federals allegiances do not lie with America, nor the American people.

NWO super state NAU, fast under construction....

wow

reply to post by jibeho


california has to be the most worthless state we have, chock full or brainwashed morons and even less intelligent parasites. I wish we could just cut them loose and seal them off from the other states.

Here's a thought.

When the illegal aliens come to apply for the scholarship, arrest them and send them back to wherever the hell they came from! That's what anyone with common sense would do; but we're talking about Jerry Brown here. His state is starving for capital, yet he wants to spend much needed dollars on those who have no right to be in the state in the first place.

Democrats...

reply to post by jibeho


The disaster which is California continues down the path of idiocy. A few days ago it was providing police protection to felons upon release from prison to ensure their safety, today its tossing dough at illegals. At some point, this country is going to be confronted with two options, letting California go bankrupt/default or backstop their bonds. When California tax free munis are paying double digit tax free income and are backstopped by the feds a ton of folks are going to get rich and take absolutely no risk in doing so.

This business makes particular sense. Deny scholarships to citizens who could use them get an education and thus to become employed and give them to illegals who it is illegal to hire. Just what we need, a better educated class of illegals on the dole. The sheer insanity of it is absolutely comical.

Well, thats that.

This guy should be lynched in the Public square.

What he did was treasonous.

"Screw Americans Over is the key"..
"What I want to do, Is reward criminal behaviour"- What he basically means.

reply to post by OldCorp


Fantastic idea. In the mid 80s, with Ed Koch was mayor of NYC they had an issue with a bunch of folks with outstanding warrants. They knew where they were but it was going to be too expensive and take too long to round all of them up. They sent them out letters indicating that they had won tickets to a breakfast with the NY Giants that was going to be held at some high school. Several hundred showed up and were arrested.

There was huge public outcry. Some of these gents showed up with their kids only to be tossed in the paddy wagon right in front of them.

Bravo to California. and while I'm typing a belated bravo to New York for their recent law legalizing gay marriage. thank God we have states like Californey and N/Y. without them this country would be eaten alive by the likes of the right wing, evangelical, some call them tea party minions. ya know, if you think about it, IMHO, it's the blue states who move this country forward. what do the red ones do? pass laws about sharia law, restricting women's freedoms and telling me who I can and can not love. I'll take a blue state anyday. long live the progressives!

way to go californiaaaaaaaaaaaaaaaaaaaaaaaaaaaa!

spend 5 billion dollars on illegals who once they graduate wont even have jobs to goto!!!!


most worthless state in the union indeed.

hey legal californians dont matter want an education TOO BAD

illegals are more important.

pandering for the hispanic vote is more important.

meh a wise man on ats said that he wish california would just sink into the ocean i use to thiink i agreed with that

but then i realized the rats would jump off their sinking ship and inflitrate the rest of the conus

so lets build a border fences around california!!

Originally posted by LooksLikeWeMadeIt
Bravo to California. and while I'm typing a belated bravo to New York for their recent law legalizing gay marriage. thank God we have states like Californey and N/Y. without them this country would be eaten alive by the likes of the right wing, evangelical, some call them tea party minions. ya know, if you think about it, IMHO, it's the blue states who move this country forward. what do the red ones do? pass laws about sharia law, restricting women's freedoms and telling me who I can and can not love. I'll take a blue state anyday. long live the progressives!

edit on 26-7-2011 by LooksLikeWeMadeIt because: was gonna add something but n/m

I think more than likely, you are going to be alone on this one.

Congradulating a state for screwing over their own people in order to help criminals .

Yea, I think you will be alone in this.

Illegal immigration knows no Party. It effects EVERY CITIZEN.

Originally posted by LooksLikeWeMadeIt
Bravo to California. and while I'm typing a belated bravo to New York for their recent law legalizing gay marriage. thank God we have states like Californey and N/Y. without them this country would be eaten alive by the likes of the right wing, evangelical, some call them tea party minions. ya know, if you think about it, IMHO, it's the blue states who move this country forward. what do the red ones do? pass laws about sharia law, restricting women's freedoms and telling me who I can and can not love. I'll take a blue state anyday. long live the progressives!

edit on 26-7-2011 by LooksLikeWeMadeIt because: was gonna add something but n/m

[atsimg]http://files.abovetopsecret.com/images/member/ea2623fcd6b8.jpg[/atsimg]

I will be embarrassed for you.

Its intersting, isnt it..$5 billion so those who didint pay taxes, get scholorships and jobs. us legal tending taxpayers, get layed off and $5 billion of our money to fund them. sick perverted. CA used to be known as the paradise state..now it should be something like we will ripp you off state, NWO order state or something.
got too hell CA,, yuove already put some nails in your own coffin, no thanks too your leaders...time will tell CA wait n see what happens...just wait moron leaders*

reply to post by LooksLikeWeMadeIt


People vote with their feet and there has been a net loss of non-illegal people (and businesses) from California for 20 years.

When the experiment in progressive politics fails, that is if you have not deemed it to have failed already, it will sorely test our system of government. Folks in competently managed states (red states by in large) are simply not going to bail out the idiots in California. Ultimately I think it could lead to a constitutional crisis.

You know who should hate this the most?

Legal immigrants.

After doing what they were supposed to, learning the language, and (hopefully) assimilating to the culture of the area, basically to be get back handed and told "haha, you could have had more by breaking the law! Heres some salt, we're going to rub it into your wounds".

I would be pissed many times over at this if I was a legal immigrant.

Assuming I even came to the US.

You people, legal citizens in CA, shold whored together at town hall or something and refuse to ever pay taxes again, under the circumstances of this news..molasses n feather the mayor too, teach him n let him know, and others..tthis is unacptable to US LEGAL taxpayers of OUR state, not yuor state, OUR state.

I hope they find another flipping source to fund it.

The taxpayers are already fleeing the state en mass and in case they haven't noticed the state is in arrears already. .

HA!

And people here have the gall to criticize Texas.

Sorry for any Californians affected by this

reply to post by TXRabbit


whats not to like about texas the only americans who have ever stood up to mexico.