One liberal's answer to the financial mess... - Mercedes-Benz Forum

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post #1 of 17 (permalink) Old 11-11-2008, 10:12 PM Thread Starter
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One liberal's answer to the financial mess...

I actually saw the woman on the news saying the feds need to bail out the states. (Last few paragraphs below reference her ludicrous comments.) Of course what she meant was bail out CA, I'm sure her concerns don't extend beyond those borders.

Hey, CA generates a stunning amount of income...and still spends lots more than it takes in.

HOW ABOUT SOME FISCAL RESPONSIBILITY? CUT SPENDING (starting perhaps with legislative salaries?) and quit looking for still more income.

My sig is making more and more sense all the time.



CA may see more taxes, drastic cuts
November 11, 2008

SACRAMENTO, CA -- A legislative analyst says the California State budget deficit is more than double what the governor has warned. It is so high that many say the only way to balance the budget will be with much higher taxes and more drastic cuts.

Every estimate that has come in the last few weeks show that the budget deficit is worsening. There are very few places left for California to turn to for money that would ensure government services keep running.

Instead of feeling honored on this Veterans Day, some of California's disabled war heroes are worried.

Under Governor Schwarzenegger's budget cuts their caretakers would make minimum wage, opening the door for them to quit.

"My war is over. The Korean War is behind us," said war veteran Herb Meyer. "But now my war, my battle is here with the budget, with the Senate, the Assembly, with the Governor."

But California's budget situation isn't likely to change soon during this global financial crisis.

A new report out by the non-partisan Legislative Analyst says it's going to get worse, with the state deficit growing to $28 billion over the next year-and-a-half.

California Legislative Analyst Mac Taylor told ABC7, "We are in such severe fiscal straights that there are no good options left."

Taylor said the Governor's proposal of $4.5 billion in budget cuts, and roughly the same amount of new taxes and fees, is a good start.

The Governor's Press Secretary Aaron McLear pointed out some success but acknowledged the challenge saying, "When we first came in from the previous administration, the first deficit we saw was larger than what we're looking at now. But that doesn't make it any easier. This is still difficult and is going to require bold leadership and difficult choices."

Legislative Analyst Mac Taylor says more is needed. He suggests revenue boosters like nearly doubling the Vehicle License Fee to 1% and adding a 5% surcharge to the income tax.

He also thinks the state can cut expenses by raising the minimum grade point average for Cal Grants from 2.0 to 2.5, and letting non-lifer inmates out 30 days early.

With no quick end in sight to the economic mess, the leader of the Assembly thinks it's time to ask Washington for a bailout.

Democratic Assembly Speaker Karen Bass of Los Angeles says, "States need to be raised to the level of AIG, to the level of the banks, to the level of the auto industry. We can't let one of the world's largest economies go over the cliff."

Even if state leaders solve the $28 billion dollar shortfall, there will be a $22 billion dollar deficit projected every year until 2014.

Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; its inherent virtue is the equal sharing of misery. (Winston Churchill)
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post #2 of 17 (permalink) Old 11-11-2008, 10:37 PM
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So California has a $100B budget with 37M people who make a per capita of $39700.

Looking at Kentucky [and I realize we don't have fancy mudslides or month long forest fires], we have a budget of $9.4B with 4.2M people and a per capita of only $29700.

What is the biggest drain on the budget? The last study I saw [2006] showed that the illegal population actually paid in more than they took in over all revenue/appropriations so that can't be it.

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post #3 of 17 (permalink) Old 11-11-2008, 10:48 PM
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Rather than bailing out wall street's wunderkind, I'd love to see a real state and local government stimulus infusion, that allowed those entities to make infrastructure and social investments that fix broken stuff and keep family wage jobs from getting axed. Right now local transits are cutting staff and nixing service routes while demand is skyrocketing. Same goes for social services and a whole host of much needed public and non-profit sector support networks that folks are relying upon to help get through this epic financial crisis.
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post #4 of 17 (permalink) Old 11-11-2008, 11:07 PM
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That is only going to get worse as housing prices continue to go down and appraisals eventually lead to lower taxes received.

Add in the businesses that are closing or laying off, Local and State governments are going to start hurting quickly.

Though I am not sure what is worse, a Bridge to Nowhere or some of these DHS grants for anti terrorist facilities, bought on the local level with very odd decision making. Lex, as an example now has TWO police helicopters. No clue or explanation as to why, but we have them.

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post #5 of 17 (permalink) Old 11-11-2008, 11:22 PM Thread Starter
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Lex, as an example now has TWO police helicopters. No clue or explanation as to why, but we have them.
Not that I would want this, but it is my weak attempt at a black humor explanation: you cannot have a midair collision between helicopters if you only have one.

One of the problems is once these budgets get this big, "real money" becomes meaningless. What's a few hundred thousand for another helicopter when the budget is nearly ten billion, right?

Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; its inherent virtue is the equal sharing of misery. (Winston Churchill)
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post #6 of 17 (permalink) Old 11-11-2008, 11:30 PM
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Not that I would want this, but it is my weak attempt at a black humor explanation: you cannot have a midair collision between helicopters if you only have one.

One of the problems is once these budgets get this big, "real money" becomes meaningless. What's a few hundred thousand for another helicopter when the budget is nearly ten billion, right?
That's it.

I think on the National level, TRILLION has now become an acceptable concept. That should be used for accumulative calculus only.

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post #7 of 17 (permalink) Old 11-11-2008, 11:42 PM
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Originally Posted by mcbear View Post
So California has a $100B budget with 37M people who make a per capita of $39700.

Looking at Kentucky [and I realize we don't have fancy mudslides or month long forest fires], we have a budget of $9.4B with 4.2M people and a per capita of only $29700.

What is the biggest drain on the budget? The last study I saw [2006] showed that the illegal population actually paid in more than they took in over all revenue/appropriations so that can't be it.
Still dropping your bearshit, aren't you ? Please do not insult the rest of us by suggesting the illegal population is a positive contribution to the budget. By saying they paid in more , you imply the rest of us are not paying our share. The natural conclusion of your outrageous claims is that the illegals are supporting the budget.
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post #8 of 17 (permalink) Old 11-12-2008, 12:57 AM
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More to the point, studies on that topic contradict one another seven ways to Sunday. So much political agenda behind them! Meanwhile, drop by an urban E.R. anytime you like.
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post #9 of 17 (permalink) Old 11-12-2008, 11:36 AM
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What's with the "liberal" shit? Why is it that every governmental entity, like CA, run by Republicans is going fucking broke?

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

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post #10 of 17 (permalink) Old 11-12-2008, 11:42 AM
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Still dropping your bearshit, aren't you ? Please do not insult the rest of us by suggesting the illegal population is a positive contribution to the budget. By saying they paid in more , you imply the rest of us are not paying our share. The natural conclusion of your outrageous claims is that the illegals are supporting the budget.
That is an amazing leap of logic there. By saying they pay more than they receive I am only saying they pay in more than they receive. It does not imply that the rest are not paying their share, as there are many other streams of revenue other than income tax, sales tax and other income streams besides residents to take into account. What you INFER is, of course another matter.

Think broader. It will help you understand your situation better.

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