Posted on 12/16/2009 8:02:49 AM PST by SmithL
California faces at least another year of recession, and the state budget is so far upside down that it's now "more likely to default than not," on some of its debt, a new economic forecast from California Lutheran University's economists declares.
The director of Cal Lutheran's new Center for Economic Research and Forecasting, Bill Watkins, cites the state's budget problems, its high regulatory and operating costs and its deficit infrastructure as impediments to rapid recovery.
(Excerpt) Read more at sacbee.com ...
Running out of free money in the Golden State Ping.
No worries - 0 will bail CA and NY out.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
California represents 12 percent of America’s population but it has 32 percent of its welfare population. The best thing they could do is dump welfare people onto the streets and get their share back to 12 percent. You can be sure the most of those welfare cases are illegal immigrants. That’s why California has so many illegals. It pays them to come there. This is a case where business interests and crazy liberals desire for a socialist government work hand in glove. It’s a disgrace.
Tell that to the suckers who held Chrysler and GM senior debt. When push comes to shove the public unions with some help from Zero will cut to the front of the line.
Even Jerry Brown admitted that it is the illegals that are the main cause of the deficit in CA. When asked “Then why don’t you do something about it?” He gave the usual liberal response of “Why would we want to do that?”
Even Jerry Brown admitted that it is the illegals that are the main cause of the deficit in CA. When asked “Then why don’t you do something about it?” He gave the usual liberal response of “Why would we want to do that?”
>No worries - 0 will bail CA and NY out.
But wouldn’t that, ultimately, be a violation of the “No Taxation w/o Representation” principle?
NOOOOO........if california dumps welfare, they will then migrate to the peoples democatik republik of michiganstan...we still have lifetime welfare benefits here ( one of only 2 states to do this ) ...
And our VP said only two weeks ago, “We may be wrong. But we believe in what we’re doing.”
they seem to be pinning all of their hopes on getting a Washington bailout, but those hopes are fading as Obama’s poll numbers continue to plummet
I’ll believe it when I hear it from the Cal Baptists.
If Cali has to be taken over by the feds and becomes a federal district, it may work out to our advantage. They would lose their congressional delagation and most of the electoral votes.
Job growth will lag the economy recovery..
Yeah right.
What recovery?
as long as Gubamint IS the largest borrower and employer, what can be expected to change?
I believe California has 53 Congressional districts. That leaves them about 170 votes shy of Congressional approval for a bailout. And they are 49 votes short in the Senate. I think it would be political suicide for any member of Congress to vote for a bailout from California. Conservatives on principle, liberals in the knowledge that their constituents would say “where’s mines?”
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