Posted on 12/27/2010 5:21:08 PM PST by Nachum
It’s looking increasingly likely that California will get bailed out by the federal government. The Golden State is $70 billion in the hole. Analysts expect that figure to reach $150 billion within four years — and that’s not including the state’s $500 billion unfunded pension liability. Spending needs to be cut dramatically, but it won’t be; the state is too politically dysfunctional to do that. And the election of big-spender Jerry Brown will only make things worse. (Incidentally, Governor-elect Brown recently described his state’s budget problems this way: “It is much worse than I thought. I am shocked.”)
Most conservatives are adamantly opposed to bailing out any state, especially California. They argue that Californians in particular don’t deserve a bail out, that a bailout would set a bad example for other states, and that it would cost too much.
But these arguments assume that a bailout of California would come with no strings attached. That may be what ends up happening, but it doesn’t have to. It’s possible to make the bailout contingent on Sacramento making drastic budget cuts and passing constitutional amendments that radically reform the state’s political system.
And the state’s political system is certainly in need of reform. Some ideas: Scaling back the state’s maze of regulations; eliminating some of its hundreds of unnecessary boards and commissions; imposing a real spending cap (the current one is too high to make a difference); laying off state employees; and reducing future pension obligations.
(Excerpt) Read more at dailycaller.com ...
“It’s looking increasingly likely that California will get bailed out by the federal government.”
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Clear grounds for secession.
Let it die.
They'll accept them to get the money. They'll lie through their teeth about actually complying with them. There's no deal you can make with them they'll be able to hold up their end of. They don't know how.
I think we should sell California to the Chinese as a start in buying down our debt.
In general, they are both socialist commies and would get along okay.
As soon as they've got the money, kiss it goodbye along with whatever they promised in exchange.
Conservatives in Kalifornia are against all bailouts!
This state MUST learn it’s lessons the hard way!
That isn't a choice that is compatible with a society based upon personal freedoms.
That is a choosing of sentencing for hard core criminal actions.
Another thing to tack on for their acceptance would be the numerous buried neutron bombs throughout the state that will be set off accordingly when the terms of the bailout are violated.
As a marooned conservative in CA, I AGREE!!
The liberals need to be taught a lesson: MONEY DOES NOT GROW ON TREES!!!!
And let Brown sink with the state, the fools voted for him, they can reap the consequences.
They'd dig them up and give them to Al- Qaida.
Dear CA, we have received your request for funds to cover your indebtedness. DENIED.
Didn’t California boycott Arizona for SB1070? Why should we want to bail them out again? So we can force them to lie to us? I don’t think so.
Bailing out CA is GM-UAW bailout x 1000
Let CA go bankrupt.
If I was king of the world i would tell california if they even hint at asking for a bailout, they will lose their statehood and be made a territory and be charged ten billion dollars for the paperwork. non payment will result in the california territory being auctioned off to the highest bidder. I would consider trading straight up for Alberta if canada is interested.
BS. This conservative has not even the remotest desire to bail out California. They made their bed, now they can lie in it. As a taxpayer, I do not want a single taxpayer dollar to go towards rewarding the irresponsibility, malfeasance, and downright stupidity of California politicians and the idiot California voters who continue to elect them for office in light of their repeated failures.
Bail out California?
And just to let you know, I no longer purchase California produce. I will go out of my way to purchase Mexican tomatoes just so I don't put a dime into California. If they are stupid enough to re-elect Jerry Brown and Barbara Boxer, they don't deserve my business. Let them rot. And let their elitist liberal tax-avoiding bond holders rot as well. Screw 'em. Have I made my point?
As bad as it is here in Michigan, at least we elected a RINO governor and a Republican legislature.
That was really rude of me, sorry. I’m not feeling at all well. Signing off to put my head down.
This will happen anyway if they don't get bailed out.
Northern California is already owned by the Chinese!! Just go in to any Costco.
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