Posted on 07/21/2009 12:32:59 PM PDT by kellynla
SACRAMENTO, Calif. -- California may soon be able to stop printing IOUs now that Gov. Arnold Schwarzenegger and legislative leaders have agreed on a compromise plan to close the state's $26 billion shortfall without tax increases.
The governor and lawmakers announced the compromise late Monday, nearly three weeks after the state began issuing pay-you-later warrants to thousands of state contractors and vendors. Many recipients had trouble finding someone to take them after several major banks stopped accepting IOUs.
The four legislative leaders will begin selling the plan to other lawmakers Tuesday as the best way to get the state back on firm financial ground and prevent further sinking of the state's credit rating, already the lowest in the nation. A contentious vote is expected Thursday.
The agreement composed of cuts, borrowing and fund shifts was not expected to resolve California's financial problems as the economy continues to struggle and tax revenue lags far behind the level of the boom years.
"This is, of course, one of the most difficult economic times to face our state since the Great Depression, so none of these were easy choices," said Assembly Minority Leader Sam Blakeslee, R-San Luis Obispo. "I think we selected a path which will lead the state back to the point where we will be strong."
Personal income fell this year in California for the first time in 70 years, leading to a 34 percent plunge in income tax revenue during the first half of the year.
The $26.3 billion shortfall amounts to nearly 30 percent of the state's general fund, the account that pays for day-to-day state services.
(Excerpt) Read more at newsmax.com ...
I think all situations can be addressed equitably by simply shipping the parents back and adopting the children out, and then, if the parents try to come back into the United States, they get a bill for our trouble in adopting their kids out.
It wouldn't take more than half a dozen instances of that sort of treatment and they'd quit having kids here.
“Look, their children may well be eligible for welfare, but at the same time the parents have a legal obligation to leave the country AND care for their children.”
And there are laws that need to be enforced.
Any pay cuts for legislators? Any cuts in welfare for illegals?
I don’t get it where people have the idea that illegal immigrants get welfare, they don’t.
Then apparently that 10.5 billion discussed in the article doesn’t really exist. Has anyone given taxpayers the good news?
Never mind paying off the IOUs.
what 10.5 billion?
Illegal alien parasites also received unemployment benefits, workers compensation etc.
They vote, buy homes with money loaned from the corrupt banksters, they drive, and choke off our social services, hospitals, jails, schools etc.
You have to be a citizen to vote.
I can tell ya about the epic fraud from millions of these illegals *all* day long...they are *killing* our system in ways most can’t imagine.
You also have to be citizen to drive legally.
Then prosecute them.
now that’s funny.
Want stories? Like the company that hired a dozen or so illegals to run machines....It's illegal to hire illegals right?
One got drunk everyday on break in the alley....Got so drunk one day, he stood urinating on his rubber mat in from of all the other illegals that were laughing, thinking it was funny....He wound up filing multiple fraudulent workers comp claims against his employer.
This happens all the time.
I got more.
Are you stoopid?
You have to be a citizen to vote.
Yeah thats what the law says...it also says the President has to be a natural born citizen, how’s that working out? FRAUD RAMPANT EVERYWHERE
Yep and while immigration is not the only issue financially draining CA as long as they refuse to acknowledge the financial damage done by these invaders and their spawn they are dreaming of any kind of financial reconciliation. It really is a make believe world.
You aren’t telling me stuff I don’t know.
Yeah, I’m just kidding.
Regarding WA, Fuggitaboutit. I’m moving to central Kentucky. I’ve had it with this cesspool. I want to be on my own relatively self sufficient and secluded acreage when this stuff gets ugly.
I can’t decide whether I should call it Gault’s Plateau or Copperhead Road.
Under that plan, drilling would be allowed from an existing rig off the Santa Barbara coast, generating about $1.8 billion in revenue over time. The proposal, opposed by many conservation groups, would be the state’s first new offshore oil project in more than 40 years.
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