California risks "insolvency" amid budget woes: government

reply to post by projectvxn


Ive also been doing lots of research since September 15th 2008. I agree with you 100%.

There also isnt much mentioned about the AIG fiasco. That is our money.

Nothing is too big to fail.

It is also illegal, under Texas law, for the government to close session with an unbalanced budget.

Just FYI

reply to post by projectvxn

California has several budget measures to deal with the deficit on the ballet today. Most are just tax increases. All are predicted to fail. The Governator favors all the tax increases simply because they are easier to deal with than actually cutting spending.

So what does Governator do the day of the vote on his budget measures? He goes to Washinton DC to celebrate with buddy Barack about the 35 mpg fleet fuel requirements dictated by Obama. The fuel requirements will increase costs of vehicles more than 10 %, probably will harm the failing auto industry, will do little to change Californias polution problems, Californians will be paying more not less but they favor the fuel requirements.

It's hard to understand California and apparently harder to live there!

I was just stationed here in California just a couple months ago with a few others, and we've been wondering exactly where the money is going. Everything here is expensive, the taxes are through the roof, there's tons of big Fortune 500 companies, there's tons of tourism, and they're continually getting rid of state employees. Now perhaps I don't understand very well because I'm not from this part of the country, but it seems to me like that money is going nowhere.

How is California possibly in a budget crisis with all this money it's taking in?

Originally posted by plumranchNo wonder people are fleeing California! They can't afford to live there!

That's not entirely true. You can afford to live there, just as long as you aren't living there legally or paying taxes.