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Schwarzenegger to U.S.: State may need $7-billion loan
The Los Angeles Times ^ | 2008-10-03 | Marc Lifsher & Evan Halper

Posted on 10/03/2008 5:47:23 AM PDT by rabscuttle385

SACRAMENTO -- California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.

The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.

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


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; US: California
KEYWORDS: bailout; calbudget; california; schwarzenegger
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Let the chips fall where they may.
1 posted on 10/03/2008 5:47:23 AM PDT by rabscuttle385
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To: PAR35; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; ..
California is spending money on illegals...why should the rest of us bail them out for the idiocy of its state government?

. . . . .

The Money, Banking, and Financial Markets Ping List.

FR Keyword: moneylist

This can be a high-volume ping list at times.

To join, send Freepmail to rabscuttle385.

2 posted on 10/03/2008 5:48:28 AM PDT by rabscuttle385 (May God save the Republic and her citizens.)
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To: rabscuttle385

Main Street to Haight-Ashbury: Go pound sand.


3 posted on 10/03/2008 5:48:45 AM PDT by Thane_Banquo ("Dog gone it ,Joe, there you go again!")
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To: rabscuttle385

My understanding from an earlier article is Cali isn’t the only state that will soon be in the welfare line, Illinois and NY are right behind.


4 posted on 10/03/2008 5:49:55 AM PDT by bereanway (Sarah get your gun)
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To: calcowgirl

.


5 posted on 10/03/2008 5:50:10 AM PDT by rabscuttle385 (May God save the Republic and her citizens.)
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To: rabscuttle385

Exactly! Tell Arnold to FORGET IT...


6 posted on 10/03/2008 5:50:13 AM PDT by SumProVita ("Cogito ergo sum pro vita." .....updated Descartes)
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To: Thane_Banquo
Pound Sand

"The origin of the expression go pound sand is from a longer expression, not to know (have enough sense to) pound sand down a rathole. Filling rat holes with sand is menial work, and telling someone to pound sand down a hole is like telling them to go fly a kite. The expression dates to at least 1912 and is common in the midwestern United States."

http://www.urbandictionary.com/define.php?term=pound%20sand

7 posted on 10/03/2008 5:50:45 AM PDT by The Iceman Cometh (McCain is looking better every passing day.)
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To: rabscuttle385

Not one thin dime of taxpayer money should go to bail out this bunch of Leftists. Let the profligate dunces the voters put in office get them out of this mess without our help.

Had CA allowed oil production off its coast the past decade, they wouldn’t need a bailout.


8 posted on 10/03/2008 5:50:57 AM PDT by kittymyrib
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To: rabscuttle385

Arnie sucks as a governor. Not that he’s a secret Dem or anything.


9 posted on 10/03/2008 5:50:59 AM PDT by Sacajaweau (I'm planting corn...Have to feed my car...)
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To: rabscuttle385

Hey Arnold-call your hollywood buddies-Speilberg, Streisand, Clooney, Damon etc-they shouldn’t have any problem coming up with a “loan” for you.


10 posted on 10/03/2008 5:51:12 AM PDT by mrmargaritaville
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To: bereanway
My understanding from an earlier article is Cali isn’t the only state that will soon be in the welfare line, Illinois and NY are right behind.

Let them go bankrupt.

Forcing one state to subsidize another, especially when the subsidized state is operating on quasi-Socialism, is not only unconstitutional but just plain wrong.

11 posted on 10/03/2008 5:51:47 AM PDT by rabscuttle385 (May God save the Republic and her citizens.)
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To: rabscuttle385

Cut spending! TAXES are too much in California and revenues are going to fall radically.
CUT SPENDING ARNIE!


12 posted on 10/03/2008 5:51:58 AM PDT by mefistofelerevised
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To: rabscuttle385
Hey! I'm facing economic hardship too, I need a billion dollar loan!

Can't we all just get a loan?

13 posted on 10/03/2008 5:57:50 AM PDT by Obadiah
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To: rabscuttle385; xzins

Schwarzenegger has managed to make Gray Davis look like a fiscal conservative. Without question he is the worst governor we have ever had. And he has some pretty strong competition.


14 posted on 10/03/2008 5:58:10 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: rabscuttle385

NO NO NO!. Do it the California Liberal way...Tax The Rich...Actors. Tax ALL their money. Take the profits of Striesand and give them to the little guy.


15 posted on 10/03/2008 5:59:00 AM PDT by screaminsunshine
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To: bereanway

Wait, don’t tell me, let me guess. Red states or Blue states?

Alex, I’ll say BLUE STATES.


16 posted on 10/03/2008 6:00:10 AM PDT by Pikachu_Dad
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To: The Iceman Cometh

That’s a ‘fair to midlin’ answer.


17 posted on 10/03/2008 6:02:47 AM PDT by blam
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To: mefistofelerevised

This is the next big Rat spending financial meltdown coming. Rat states ...CA IL NJ NY..Can’t survive a recession. They done spent and borrowed evrry penny. Beholding yo unions,minorities and illegals the y can’t cut spending. A lot off cities are in the same shape
This should cause another financial crisis.


18 posted on 10/03/2008 6:03:07 AM PDT by Oldexpat (Drill Here, Drill There..we must drill everywhere.)
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To: rabscuttle385
California has been overspending for years and now it wants national taxpayers to bail it out for its financial mismanagement? This is too funny for words!

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

19 posted on 10/03/2008 6:03:57 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: rabscuttle385; calcowgirl; Grampa Dave; SierraWasp; ElkGroveDan; NormsRevenge; marsh2; fish hawk

I wonder how much of this is Arnold spreading FUD to stampede Calif congressmen to vote to bail out all the gamblers...


20 posted on 10/03/2008 6:05:32 AM PDT by tubebender (Why do we drive a on a Parkway but park on a Driveway)
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