Skip to comments.Bay Area, California to lose big if federal sequester cuts hit this week
Posted on 02/24/2013 5:41:36 PM PST by artichokegrower
Just when Californians are finally feeling upbeat again about where the state is heading, here comes a fresh downer: The federal sequester cuts set to kick in this week could cost California billions of dollars and hundreds of thousands of jobs while making most of our daily lives more difficult.
The state's budget may be balanced and the economy improving, but unless congressional Republicans and President Barack Obama reach a last-minute deal, the federal government on Friday will begin slashing $85 billion this year, including about 8 percent from the Pentagon and about 5 percent from most other discretionary programs.
In California, the cuts would cost the Golden State 225,000 current and future jobs, about $670 million annually in federal grants, plus $3.3 billion in statewide military and defense revenue, lawmakers, administration officials and experts estimate. $670 million annually in federal grants, plus $3.3 billion in statewide military and defense revenue, lawmakers, administration officials and experts estimate. The University of California is anticipating 5 percent hits to its $3.3 billion federally funded research program as well as its $1.5 billion in U.S. student aid program, on top of federal cuts enacted last year. School districts around the state would also take sucker punches., on top of federal cuts enacted last year. School districts around the state would also take sucker punches.
(Excerpt) Read more at mercurynews.com ...
I am sorry to say I must be one of those sun burnt nut cases you
speak of because I am a fifth generation Californian . Yes, we
are all the same and there ain’t a dimes worth of difference in
any of us. Why hell, even the proprietors of FR are nothing but
sun burnt nut cases .......from the Fresno sun burnt nut case
region. In the back of my alledged mind I seem to recall that once
California was less of sun burnt nut case place and actually
helped to support other states. But then we changed.......every
single one of us turned into a sun burnt nut case. Say, do you
mind telling me just how life is in a state that has absolutely
no liberals in it? I’m just curious.
You're not and never have. Here is the Net balance of payments by State during the '90s (lower rankings mean more contributions than revenues received back from the Feds). And here are the data for the latest year I found (2005). Both are comparable, with California averaging around 40th and Nevada 48th. In 2005, the real Federal revenue hogs (from 1-10) were VA, LA, MD, AL, MS, MO, KY, TN, PA, & NM.
Californians have high incomes. That means they pay high Federal taxes. Your impressions are in error.