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State Budget Shortfall Widens ($14 Billion Deficit - Tom McClintock Was Right Alert)
Los Angeles Times ^ | 12/12/2007 | Jordan Rau

Posted on 12/12/2007 10:34:32 AM PST by goldstategop

Gov. Arnold Schwarzenegger told social service advocates Tuesday that the state's anticipated budget shortfall -- already feared to be the worst since he took office -- has widened to $14 billion, according to people at the meetings.

That new figure indicates that the state's fiscal fortunes are declining even more rapidly than many leaders had expected. Less than a month ago, the Legislature's chief budget analyst calculated that California is on track to come up $10 billion short by June 2009, when the state ends its next fiscal year.

A $14-billion budget gap would translate to more than 12% of the state's budget if spending continues to rise as projected. Legislative Analyst Elizabeth Hill last month urged legislators to consider getting rid of state programs created in recent years, abolishing tax breaks, raising taxes and reducing benefits for the recipients of government programs.

(Excerpt) Read more at latimes.com ...


TOPICS: Constitution/Conservatism; Government; News/Current Events; US: California
KEYWORDS: 14billion; budgetcrisis; budgetdeficit; calbudget; california; jordanrau; losangelestimes; mcclintock; tommclintock
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To: goldstategop

Slick Willard is Schwarzenegger writ large.

Beware the “electability” canard. Reject the liberal infiltrator.


21 posted on 12/12/2007 4:41:27 PM PST by Petronski (Reject the liberal superfecta: huckabee, romney, giuliani, mccain)
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To: goldstategop; calcowgirl

Where are all the FReepers who voted for this clown???


22 posted on 12/12/2007 4:56:19 PM PST by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: goldstategop

RECALL SCHWARZENEGGER!

We told you so.


23 posted on 12/12/2007 4:58:39 PM PST by B Knotts (Tancredo '08!)
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To: kellynla

Most of them have WAndered aWAy.


24 posted on 12/12/2007 4:59:28 PM PST by B Knotts (Tancredo '08!)
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To: Petronski
Slick Willard is Schwarzenegger writ large.

Not really. Romney is at least humoring us.

Schwarzenegger never pretended to be a conservative, except maybe on illegal aliens.

But there were quite a few FReepers (mostly gone now) who were happy to vote for him as an unabashed liberal anyhow. And those of us who said it was a bad idea were called all sorts of names, and laughed at.

Who's laughing now?

25 posted on 12/12/2007 5:02:56 PM PST by B Knotts (Tancredo '08!)
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To: backtothestreets
California and the federal government are masking false economies that require they borrow and spend.

I agree with your theory. It's a house of cards and no one is willing to say the emperor has no clothes. When it all falls down, it's gonna hurt worse.

26 posted on 12/12/2007 5:03:30 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: B Knotts

Bittersweet laughter, to be sure...


27 posted on 12/12/2007 5:05:36 PM PST by Petronski (Reject the liberal superfecta: huckabee, romney, giuliani, mccain)
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To: Petronski

True.

“Everything has to be provided for the people.” —A. Schwarzenegger


28 posted on 12/12/2007 5:07:54 PM PST by B Knotts (Tancredo '08!)
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To: B Knotts

“Most of them have WAndered aWAy.”

Yea, probably the same geniuses who come on CA fire threads and complain about CA & those of us who live here.

I notice not a peep out of CA bashers in the Midwest who have to deal with their own tragedies this week.


29 posted on 12/12/2007 5:21:50 PM PST by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: goldstategop
I thought the whole point of sh*t-canning Davis and electing Arnold was so they could fix the hemorhaging budget.

Oh well. Colley-forrnya--go figger.

30 posted on 12/12/2007 5:26:51 PM PST by hinckley buzzard
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To: goldstategop

tell Ahnold less state spending = less greenhouse gas


31 posted on 12/12/2007 5:33:42 PM PST by Fitzcarraldo
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To: kellynla

They tried lying to sell more liberals on a conservative website and exposed themselves as trolls. Poof, gone! (or Zot!)


32 posted on 12/12/2007 5:41:50 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: Petronski
Slick Willard is Schwarzenegger writ large.

Nah.... I think Rudy is playing right out of the Schwarzenegger playbook.
Two peas in a pod.

33 posted on 12/12/2007 5:42:52 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: calcowgirl
Thanks for the ping.

So let's pile on. I propose an initiative to raise the Homeowner's Exemption to the median home price in California. Some might propose the average, which would be OK too. Either way.

Know why? Right now it's $7000, where it was in 1972. Adjusted for ordinary CPI, it would be $35000 or so. But that ain't nuthin' like California RE appreciation. It should -- and did -- track that prior to Prop. 13. I don't know the history, suspect they stopped incrementing it when 13 passed ( CCgirl can probably tell me ).

So if it was the median price, that's about $497,000 right now.

Instantly the funding crisis would be FAR LARGER.

This is a good thing. All of sudden, there would be hard choices to make: fund the actual needs of the citizens, and no more, or try to raise taxes to pay for the never ending, ever mushrooming needs of the illegals..which would be political suicide.

It has the further attraction of being the sort of simple issue that every homeowner understands. And it does not personalize anything. It is a straight issue: should you have low or no taxes on your home? After all...why should you live in fear of losing your residence?

The Republican Party in this state is clueless. This is a simple, direct way of once again gaining the loyalty of the working middle class in this state without dangling freebies in front of them. But they won't propose it since they are just as corrupt as the Dims here: all they really worry about is how much public contract money they will get, and "re-branding" the party to market some of their guys for election, so they can get at that money.

Now is the time to make the deficit even wider and drive the Socialist Lemmings off the cliff. But the CAGOP needs to be bypassed, since they have no interest and no clue how or why to do that.

34 posted on 12/12/2007 6:21:45 PM PST by Regulator
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To: Regulator

Some other folks are definiely behind your plan—See AB293.
http://www.boe.ca.gov/legdiv/ptleg/pdf/ab0293-1rk.pdf

The link also includes a bunch of the history on prior attempts at changing the exemption.

PS... I didn’t know any of this, I just use google a lot. LOL


35 posted on 12/12/2007 6:40:01 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: calcowgirl
"When it all falls down, it's gonna hurt worse."

When it falls, I really hope people do not turn on one another, and remember to vent their anger with the politicians that created the mess while filling their pockets with our taxes and special interest money. They've lived the good life while leading us to slaughter.
36 posted on 12/12/2007 6:56:31 PM PST by backtothestreets (My bologna has a first name, it's J-O-R-G-E)
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To: goldstategop
Well they say as it goes in Cali so goes the rest of the country I hope like hell this aspect of the saying isn’t true !
37 posted on 12/12/2007 6:59:34 PM PST by ATOMIC_PUNK (Global Warming : Tape a liberals mouth shut and thats the end of Global Warming {both ways})
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To: calcowgirl

Tom is still my choice for governor, and will be next go around.


38 posted on 12/12/2007 7:03:02 PM PST by backtothestreets (My bologna has a first name, it's J-O-R-G-E)
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To: calcowgirl
Good summary by Strickland.

Now all he has to do is multiply by 10.

Good to see he's working on it. Would be better to go back to the initiative process again.

Bet there's a lot of people out there who are seriously in need of relief....like the folks who are facing re-sets on their mortgages.

Thanks for Googling!

39 posted on 12/12/2007 7:18:33 PM PST by Regulator
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To: calcowgirl

BTTT


40 posted on 12/13/2007 2:54:43 AM PST by E.G.C.
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