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Posted on 01/05/2003 12:17:01 PM PST by Ernest_at_the_Beach
Edited on 04/14/2004 10:05:42 PM PDT by Jim Robinson. [history]
1. California's fiscal house, so clearly out of order, will create opportunities for social entrepreneurs. Gov. Gray Davis, his Democratic allies and a too-soft Republican opposition have frittered away a massive state budget surplus on social programs implemented for the sole purpose of creating Democratic voters. Instead of investing the surplus in the infrastructure needed to help support the state's continuing growth - power, water, roadways, new schools - we now have neither infrastructure nor funds available to operate existing programs. Who will save us? Regular citizens, who will create charities, cooperative organizations, local-based programs and new businesses that will not require as much power, water or commuting as previous organizations have.
(Excerpt) Read more at 2.ocregister.com ...
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Why does this remind me of Moonbeam's "psychic income" speech? Yup, his era of limits has finally arrived, California.
Now sure, if you chop your income to $25,000 per year, you're going to pay a lot less in income taxes. But your rent and/or property taxes, car taxes, sin taxes, utility costs, etc. all stay the same.
It's possible to do what the author suggests, but not in California - you have to move to a low-cost-of-living area of the country to pull it off.
They finally brought down what Jerry's dad built and Ronnie fine tuned!!!
What a gigantic PANT-LOAD!!!
Section. 8.
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and
Excises, to pay the Debts and provide for the common Defence and general
Welfare of the United States; but all Duties, Imposts and Excises shall be
uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and
with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject
of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the
Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of
the United States;
To establish Post Offices and post Roads;
To promote the Progress of Science and useful Arts, by securing for limited
Times to Authors and Inventors the exclusive Right to their respective Writings
and Discoveries;
To constitute Tribunals inferior to the supreme Court;
To define and punish Piracies and Felonies committed on the high Seas, and
Offences against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal, and make Rules
concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of Money to that Use shall be
for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of the land and naval Forces;
To provide for calling forth the Militia to execute the Laws of the Union, suppress
Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining, the Militia, and for governing
such Part of them as may be employed in the Service of the United States,
reserving to the States respectively, the Appointment of the Officers, and the
Authority of training the Militia according to the discipline prescribed by
Congress;
To exercise exclusive Legislation in all Cases whatsoever, over such District (not
exceeding ten Miles square) as may, by Cession of particular States, and the
Acceptance of Congress, become the Seat of the Government of the United
States, and to exercise like Authority over all Places purchased by the Consent of
the Legislature of the State in which the Same shall be, for the Erection of Forts,
Magazines, Arsenals, dock-Yards, and other needful Buildings;--And
To make all Laws which shall be necessary and proper for carrying into
Execution the foregoing Powers, and all other Powers vested by this Constitution
in the Government of the United States, or in any Department or Officer thereof.We all know that modern Congresses do not feel constrained by these limitations, but I would like to hear your thoughts on which will be used as "cover" if they try this.
I'm not sure this is any different than "Revenue Sharing", which I think was started under Nixon. And I certainly can't think of how it's constitutional, although that question may have already been litigated at that time.
The interstate commerce clause.
You may be right. Congress uses that for every other piece of unconstitutional legislation they dream up.
But that's exactly the one which should prevent loaning money to California. Since it doesn't involve more than one state, it can't be "inter".
President Gerald Ford turned the city down for a bailout as a poor risk which generated the infamous Daily News headline "Ford to City: Drop Dead." Governor Hugh Carey, who lost confidence in Beame, stepped in with emergency controls that stripped the mayor of traditional power over fiscal matters and left the city under the Municipal Assistance Corporation. The state and federal governments then came through with financial support to save the city from bankruptcy.
The Lockheed bailout was a bad precedent, IMO, even though it cost the taxpayers nothing in the end.
Well there you go, I'm from NY and couldn't remember if it was the federal or state government.
The precedent in the private sector though has been set for granting loans and that's what you may see in California at first, but if they default what's the government going to do about it? Uncle Sam will never let California burn in flames, they'll rescue it in the end, Constitution or not.
Actually, it was Municipal Union pension funds and the sale of "Big MACs" [Municipal Assistance Corporation bonds].
California's problem is that it doesn't have New York State to 'morally guarantee' the bonds...Cali's bonding capacity is just about shot.
And remember, in 1975, the Stock Market had recovered, and union pension funds were 'FLUSH!'
Can CALPERS do the same for the state after the Greatest Bear Market in the History of Civilization???
Look, I don't have a crystal ball, but you are talking about a whole different ball game.
Perhaps the Professor isn't off his rocker after all.
Now that would be a hoot...looting Calpers to bail out the "Rats. Where are the first street battles, ala Watts, going to be fought and by whom ?
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