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To: SmithL

There is little hope that CA can cut the spending fast enough to keep up with the declining tax revenues. With car sales down by nearly 50%..and that is a big earner of sales tax and no capital gains tax coming in..they are in a world of trouble.
They will be headed to DC looking for another hand out.


7 posted on 05/20/2009 10:46:17 AM PDT by Oldexpat
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To: Oldexpat
There is little hope that CA can cut the spending fast enough to keep up with the declining tax revenues.

I tend to disagree, my FRiend. If CA suddenly "found" a trillion dollars, how long do you think it'd take the legislature to spend it? My guess is measured in hours, not days.

They could stop all state spending immediately -- and they should.

84 posted on 05/20/2009 12:14:32 PM PDT by Terabitten (Vets wrote a blank check, payable to the Constitution, for an amount up to and including their life.)
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