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California May Need an Emergency Federal Loan
10-03-2008, 04:10 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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California May Need an Emergency Federal Loan
Quote:
California may need a $7 billion emergency loan from the federal government to pay for "teachers' salaries, nursing homes, law enforcement and every other state-funded service" this month, Gov. Arnold Schwarzenegger warns. . . . "Absent a clear resolution to this financial crisis that restores confidence and liquidity to the credit markets, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the federal Treas
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California may need $7 billion federal loan - CNN.com
But don't worry . . . the market will sort it all out.
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10-03-2008, 04:18 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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I blame Gray Davis.
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10-03-2008, 04:21 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Me too. Is he still alive? I say we drive over to his house with some torches and pitchforks.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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10-03-2008, 04:36 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Why don't they just raise taxes? That's usually the way to "obtain the necessary level of financing to maintain government operations". :confused:
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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10-03-2008, 04:40 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 5,596
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Why would Arnold want to do something politically unpopular like raise taxes when he can just hit up the Treasury for it? Republicans don't raise taxes even when it makes sense to do so. Plus, this way, we can all pay for the problem.
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I purr therefore I am.
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10-03-2008, 04:43 PM
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#6
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 488
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Quote:
Originally Posted by Notmuchlonger
I blame Gray Davis.
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How so? Didn't he want to raise taxes to lower the deficit?
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10-03-2008, 04:47 PM
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#7
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Moderator Emeritus
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
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For goodness sakes, the state has to raise taxes or reduce spending. Just passing the political buck.
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No more lawyer stuff, no more political stuff, so no more CYA
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10-03-2008, 04:48 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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Increasing taxes takes time - apparently California needs the money now.
__________________
Numbers is hard
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10-03-2008, 04:50 PM
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#9
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 944
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Grey Davis is holed up in his house - what a way to go.....CA Gov. and then a disgraced nobody. He's gotta have quite a liquor cabinet.
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Freed at 49. You only live once - live it
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10-03-2008, 04:59 PM
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#10
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Recycles dryer sheets
Join Date: May 2006
Posts: 465
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10-03-2008, 05:01 PM
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#11
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Full time employment: Posting here.
Join Date: Feb 2008
Location: Central Coast, California
Posts: 923
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What if Ahhhnold reimbursed the state for that expensive, crappy "special election" he rammed through during his first year in office? We voted down basically everything he brought to the table. He later took responsibility for the fiasco, but not fiscal responsibility.
Hey, Gobernator, it's not 7 billion but I know a few folks who could use some of that cash now....
__________________
"You'd be surprised at how much it costs to look this cheap." -- Dolly Parton
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10-03-2008, 05:08 PM
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#12
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 464
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Quote:
Originally Posted by Milton
Why don't they just raise taxes? That's usually the way to "obtain the necessary level of financing to maintain government operations". :confused:
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CA has one of the highest tax rates, I do not how much more we can handle. I wish the government learns the LBYM philosophy from this board. Unfotunately, when it is not their own money, they will just spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend, and spend..... uh I am tired of typing.
mP
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10-03-2008, 05:28 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by cute fuzzy bunny
Me too. Is he still alive? I say we drive over to his house with some torches and pitchforks.
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He maybe a bacon lover. Lets think about this a minute.
Wait lets raise the taxes. Ill be out of here in a few years hiding in my log cabin in some obscure state waiting out the end of my life!
Oh hell I got more editing. How about cutting some social programs.. Oh ahhh oh poppen fresh dough! Nah lets just raise the taxes
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10-03-2008, 06:00 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Quote:
Originally Posted by Urchina
What if Ahhhnold reimbursed the state for that expensive, crappy "special election" he rammed through during his first year in office? We voted down basically everything he brought to the table. He later took responsibility for the fiasco, but not fiscal responsibility.
Hey, Gobernator, it's not 7 billion but I know a few folks who could use some of that cash now....
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You do sort of have to commiserate with him a little bit. We tossed out gray davis and put him in charge on a platform of shaking things up and changing the way california does business. The legislature promptly refused to go along with anything. He went to the voters to ask them to back him up on the reasons why we recalled davis and put him in charge. And the voters said "meh".
He had to have a few moments there where he wondered "Why am I here again? Just to stand around and make noises and not really make any difference?"
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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10-03-2008, 06:33 PM
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#15
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 488
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Arnold should ask Warren Buffet for the money. He has more money than the Federal government, which is 10 trillion in debt.
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10-03-2008, 06:37 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Im still wondering where that huge surplus that California had went... The mysteries of the universe. Good news though they finished working on I 5! Hot damn! By the way I cant stand Arnold either.. Bring back Petey boy.
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10-03-2008, 06:44 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Thats easy. The big capital gains taxes stopped rolling in around 2000 but the legislature kept spending until...errr...well actually they havent stopped yet...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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10-03-2008, 06:47 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Im torn Cfb. Fargo or an ex basketball player. I wonder if he will give out those little basketballs at the elections. I might be tempted.
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10-03-2008, 06:50 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Another "none of the above" set of election choices.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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10-03-2008, 06:50 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by cute fuzzy bunny
Another "none of the above" set of election choices.
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Id go for the one who offers some bacon... ..
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