Posted on 12/15/2010 9:37:19 AM PST by JoeA
With a growing state deficit and an unbalanced budget, the state of California decided to hold a going out of business sale, and unload some of its inventory of real estate in order to narrow the distance between the state’s appetite for spending and financial reality. Governor Schwarzenegger, in a rare display of free market thinking and political fortitude, asked the legislature for the authority to sell some of its assets, in an attempt to balance the state’s budget, as is required by its constitution. In an extraordinary moment of lucidity, the legislature agreed, whereupon Arnold directed the state’s Department of General Services to place eleven properties on the auction block --long ago, when the deficit was a mere $11 Billion. It has since ballooned to over $25 Billion dollars. At the time, three of the department’s board members objected to the sale, and were terminated by the Governator. Immediately, opponents filed suit to prevent the sale. They contended that the sale was tantamount to giving away state funds to “profiteers.”
(Excerpt) Read more at exm.nr ...
Oh NO, not profits!!!
Just what other motive would anyone have in acquiring property? Good Lord are these people stupid?
LOL!!!!
“Good Lord are these people stupid?”
They are evil. They want more of a “bailout” from Obama. The evil TV media and hollywood - all of it including Fox - uses this fantaxsy word “bailout.” It is total BS.
So, the State should not be permitted to sell assets unless the buyer is not to be permitted to make any profit. That is just so very logical and productive. Buyers will be lining up for that deal, all offering prices in excess of the assets’ possible future values.
The principle here is that the State should own everything and any backsliding from that goal is prohibited.
They believe that government should always acquire more property. They believe that government should own all property; Just as government should own all means of production.
And why does that motivate them??? . . .To them, government means THEM!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.