California Bond Rating Cut as $35 Bln Deficit Looms

Bloomberg News ^ | 12/19 | By Dennis Walters

[Ernest_at_the_Beach]

Gonna get ugly!

calgov2002:

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[Plutarch]

Mexican immigrants causin' all them problems? You are soooo wrong. Why this here perfessor at the Cato Institoot tells us that Mexican immigration is good for us. He's one of those libertarians. And liberty is good, right? And he's got more degrees than you can shake a stick at!:

Contrary to common objections, evidence does not suggest that a properly designed system of legal Mexican migration... will burden taxpayers, create an unassimilated underclass, encourage lawbreaking, or compromise border security.

Daniel Griswold is associate director of the Cato Institute's Center for Trade Policy Studies.

[snopercod]

The GOP should hold the line

No, they should attack. They should be pummeling the airwaves with issue ads right now. Do they never learn?

[snopercod]

...and still the State Controller, Kathleen Connell, remains silent.

[snopercod]

You must be in the construction trades. I'm glad I'm not a contractor out there any more.

But don't worry, the illegals who work for cash don't need no steenkin' workmen's comp.

[Caipirabob]

You'll love it here in Bush Territory. We'll also welcome the new jobs!

[4Freedom]

"...a properly designed system of legal Mexican migration..."

We need to work on "a properly designed system of legal" immigration that's fair to all of the people in the world that would like a chance to emigrate legally to the United States, but more importantly, fair to the American citizens that are already here."

There's nothing special about the citizens of Mexico that want to come to this country that they should deserve preferential treatment over and above everyone else in the world.

That's a crock.

[Robert357]

best way to solve the California Budget crisis is to threaten to sell Catalina Island to Iraq or Iran for $35 Billion Dollars unless the Feds agree to purchase it first.

Would drilling rights to oil off the coast be included in the price? If so Iraq, Iran and the feds might be in a real bidding war that would generate that much money.

[P-Marlowe]

Geez, there's oil out there isn't there? I never thought of that. Perhaps Exxon could bail us out. And we could end our dependence on terrorist states that supply us energy. Cool, we can kill two birds with one stoning.

[Robert357]

If he raises taxes, the remaining big companies will pack up and move.

I think that even small companies that don't sell their services just within California would also consider moving. I suspect that some of the Las Vegas, post Northridge Earthquake population boom was related to companies and people leaving southern California for safety and a favorable business climate. I suspect that any major increases in taxes along with the feds cutting down on California taking excess water from the Colorado, should give business owners and managers a moments pause in regard to investment decisions.

While California has been blessed by a favorable climate, reasonable natural resources, and an educated workforce, there is the dark side to things. Water shortages, earthquakes, air pollution and stringent air regulations, high taxes, high property values, very litiguous populace, oppressive state laws regualating businesses, etc. A few years ago, California suffered massive federal military base closures.

Liberal Hollywood can only employ so many. Beside, so many TV shows are now filmed in British Columbia Canada, which is even more liberal than California.

[Robert357]

The destination? Florida.

Please, do me a favor. When you move your company to Florida, please train your workers on how to vote. Elections in that state have become a national embarisment.

[Robert357]

.and still the State Controller, Kathleen Connell, remains silent.

She has not been shy in the past. Her silence is quite interesting. Good observation. She will likely say something and quite profound pretty soon. I don't think Davis will like what she says either.

I keep going back in my mind to the resignation of Davis'financial planning director. I wonder, if he had talked to S&P and new they were considering a downrating and that is why the Gov called the emergency session of the legislature. I also wonder if the Gov didn't cut as deeply into spending as advised by Wall Street and his financial planning director, which is why the Director resigned and then in the next instant S&P says that the State's GO bonds are not as creditworthy.

Inquiring minds want to know. Yes, I think that Kathleen Connell will shape how things will be viewed, when she gets around to speaking.

[Plutarch]

What bathroom wall was that quote scribbled on?

Cato Institute Trade Policy Analysis No. 19 October 15, 2002. See link below. The report was summarized in an Op-Ed piece in the Wall Street Journal. The report is the game plan for the Bush Administration. It admits that the each Mexican immigrant costs taxpayers $89,000 (but that's okay, because the cheap labor helps Domino's Pizza).

"Willing Workers" Cato Policy Analysis

[Publius6961]

I need to find the Freeper posts during the summer of 2001 where this very event was predicted as a result of the bumbler's ineptitude.

CRISIS MANAGEMENT IS NOT LEADERSHIP!

and half of California's voters are dumb as a box of rocks...

[Ernest_at_the_Beach]

It is good to hear from those on the front line!

[Ernest_at_the_Beach]

A lot of observations and some predictions were made by followers of the Calpowercrisis threads although I am not sure how you are going to find them.

[lafayette76]

There's so much oil off the coast of California, it seeps from the ocean floor and literally washes up on many beaches during big winter storms.