OT: No bailout for California

[DWCAP]

[quote=paramount]It’s all of the above – mark my words though – nothing will really come of it except possibly more fees and taxes.

Assembly members will still get their 120k salary + free car (many opt for a Lexus of course) + free gas + free insurance + 30k per diem + this + that….[/quote]

If only that was the problem, and not just a symptom.
The problem isnt the few million the legeslator rewards itself with, it is the billions that are spent taking care of people and the costs of providing that service. The medical bills, the Schools, healthy children programs, the free lunch/food programs, the roads and infastructure etc etc etc. All the stuff that sounds good but we dont want to pay for.

Basically there alot of people out there taking alot out of the system and putting little to nothing back in.(Most of them are either old, or very young.)Those putting into the system dont want to put anymore in, so the system is running out. We either need to put more in, or expect less from the system (You mean Octomom cant have 14 children, many of whom are special needs, and have the state pay for all their care/education/costs!) She is only an extream example of the real problem.

[bsrsharma]

California essentially bankrupt

Deficit forces California to issue IOUs

http://www.ft.com/cms/s/0/1940d18e-64cf-11de-a13f-00144feabdc0.html

States brace for shutdowns

http://www.latimes.com/news/nationworld/nation/la-na-shutdown30-2009jun30,0,1912245.story?track=rss

This is a big story for another reason. Whatever happens in CA will usually spread to the nation. We should expect CA problem of today to be US problem in less than 10 years. My guess is, by 2020, a major buyer of treasuries will be the Fed.

[bsrsharma]

California essentially bankrupt

Deficit forces California to issue IOUs

http://www.ft.com/cms/s/0/1940d18e-64cf-11de-a13f-00144feabdc0.html

States brace for shutdowns

http://www.latimes.com/news/nationworld/nation/la-na-shutdown30-2009jun30,0,1912245.story?track=rss

This is a big story for another reason. Whatever happens in CA will usually spread to the nation. We should expect CA problem of today to be US problem in less than 10 years. My guess is, by 2020, a major buyer of treasuries will be the Fed.

[bsrsharma]

California essentially bankrupt

Deficit forces California to issue IOUs

http://www.ft.com/cms/s/0/1940d18e-64cf-11de-a13f-00144feabdc0.html

States brace for shutdowns

http://www.latimes.com/news/nationworld/nation/la-na-shutdown30-2009jun30,0,1912245.story?track=rss

This is a big story for another reason. Whatever happens in CA will usually spread to the nation. We should expect CA problem of today to be US problem in less than 10 years. My guess is, by 2020, a major buyer of treasuries will be the Fed.

[bsrsharma]

California essentially bankrupt

Deficit forces California to issue IOUs

http://www.ft.com/cms/s/0/1940d18e-64cf-11de-a13f-00144feabdc0.html

States brace for shutdowns

http://www.latimes.com/news/nationworld/nation/la-na-shutdown30-2009jun30,0,1912245.story?track=rss

This is a big story for another reason. Whatever happens in CA will usually spread to the nation. We should expect CA problem of today to be US problem in less than 10 years. My guess is, by 2020, a major buyer of treasuries will be the Fed.

[bsrsharma]

California essentially bankrupt

Deficit forces California to issue IOUs

http://www.ft.com/cms/s/0/1940d18e-64cf-11de-a13f-00144feabdc0.html

States brace for shutdowns

http://www.latimes.com/news/nationworld/nation/la-na-shutdown30-2009jun30,0,1912245.story?track=rss

This is a big story for another reason. Whatever happens in CA will usually spread to the nation. We should expect CA problem of today to be US problem in less than 10 years. My guess is, by 2020, a major buyer of treasuries will be the Fed.

[CA renter]

[quote=SanDiegoDave]After last month’s ballot measure results, does anyone really believe that CA voters would overturn Prop 13?

One needs only to look at other states that have no Prop 13. The states that have full, unrestricted ability to not only raise property tax rates, but also reassess value every year. They’re all running massive deficits too.

It’s the spending. Pure and simple.[/quote]

Absolutely true. I’ve seen tremendous waste in the public sector, yet think the salaries themselves are not really the problem. There are many places that should be cut long before cutting salaries of those who provide the actual services (teachers, firefighters, cops, etc.). The administrative sector has expanded too much, and the govt is very top-heavy.

Going to say it again…we cannot support all the illegal immigrants. If people want them to stay here (read: employers), they have to pay for the associated costs themselves. The taxpayers should not be burdened with these costs.

[CA renter]

[quote=SanDiegoDave]After last month’s ballot measure results, does anyone really believe that CA voters would overturn Prop 13?

One needs only to look at other states that have no Prop 13. The states that have full, unrestricted ability to not only raise property tax rates, but also reassess value every year. They’re all running massive deficits too.

It’s the spending. Pure and simple.[/quote]

Absolutely true. I’ve seen tremendous waste in the public sector, yet think the salaries themselves are not really the problem. There are many places that should be cut long before cutting salaries of those who provide the actual services (teachers, firefighters, cops, etc.). The administrative sector has expanded too much, and the govt is very top-heavy.

Going to say it again…we cannot support all the illegal immigrants. If people want them to stay here (read: employers), they have to pay for the associated costs themselves. The taxpayers should not be burdened with these costs.

[CA renter]

[quote=SanDiegoDave]After last month’s ballot measure results, does anyone really believe that CA voters would overturn Prop 13?

One needs only to look at other states that have no Prop 13. The states that have full, unrestricted ability to not only raise property tax rates, but also reassess value every year. They’re all running massive deficits too.

It’s the spending. Pure and simple.[/quote]

Absolutely true. I’ve seen tremendous waste in the public sector, yet think the salaries themselves are not really the problem. There are many places that should be cut long before cutting salaries of those who provide the actual services (teachers, firefighters, cops, etc.). The administrative sector has expanded too much, and the govt is very top-heavy.

Going to say it again…we cannot support all the illegal immigrants. If people want them to stay here (read: employers), they have to pay for the associated costs themselves. The taxpayers should not be burdened with these costs.

[CA renter]

[quote=SanDiegoDave]After last month’s ballot measure results, does anyone really believe that CA voters would overturn Prop 13?

One needs only to look at other states that have no Prop 13. The states that have full, unrestricted ability to not only raise property tax rates, but also reassess value every year. They’re all running massive deficits too.

It’s the spending. Pure and simple.[/quote]

Absolutely true. I’ve seen tremendous waste in the public sector, yet think the salaries themselves are not really the problem. There are many places that should be cut long before cutting salaries of those who provide the actual services (teachers, firefighters, cops, etc.). The administrative sector has expanded too much, and the govt is very top-heavy.

Going to say it again…we cannot support all the illegal immigrants. If people want them to stay here (read: employers), they have to pay for the associated costs themselves. The taxpayers should not be burdened with these costs.

[CA renter]

[quote=SanDiegoDave]After last month’s ballot measure results, does anyone really believe that CA voters would overturn Prop 13?

One needs only to look at other states that have no Prop 13. The states that have full, unrestricted ability to not only raise property tax rates, but also reassess value every year. They’re all running massive deficits too.

It’s the spending. Pure and simple.[/quote]

Absolutely true. I’ve seen tremendous waste in the public sector, yet think the salaries themselves are not really the problem. There are many places that should be cut long before cutting salaries of those who provide the actual services (teachers, firefighters, cops, etc.). The administrative sector has expanded too much, and the govt is very top-heavy.

Going to say it again…we cannot support all the illegal immigrants. If people want them to stay here (read: employers), they have to pay for the associated costs themselves. The taxpayers should not be burdened with these costs.

[GH]

I think most on this blog recognize the State could function on a lot less money and our children would still go to school, police would still ticket speeders and fire-fighters would still put out fires, but just to appease those who believe more taxes are the answer. Say for the sake of argument we repealed Prop 13, increased sales tax to 30% and increased State income tax to 30% etc, and were able to double State Revenue.

OK, problem solved. Schools could get all the extra money they need to provide our children with the finest possible education, police would all all over the place. Fires would almost put themselves out, Pot smokers could all be given life sentences without possibility of parole and we could provide for all the illegals who could ever want to come here.

Don’t you think it more likely that raises and bonuses would be flinging around like never before, retirements for senior officials who would surely proliferate would increase massively, and in the end there would be no money for teachers, prisons, firemen etc?

The fact is that there is not enough money in the universe to support the kind of Government we have today and things will have to change radically.

[GH]

I think most on this blog recognize the State could function on a lot less money and our children would still go to school, police would still ticket speeders and fire-fighters would still put out fires, but just to appease those who believe more taxes are the answer. Say for the sake of argument we repealed Prop 13, increased sales tax to 30% and increased State income tax to 30% etc, and were able to double State Revenue.

OK, problem solved. Schools could get all the extra money they need to provide our children with the finest possible education, police would all all over the place. Fires would almost put themselves out, Pot smokers could all be given life sentences without possibility of parole and we could provide for all the illegals who could ever want to come here.

Don’t you think it more likely that raises and bonuses would be flinging around like never before, retirements for senior officials who would surely proliferate would increase massively, and in the end there would be no money for teachers, prisons, firemen etc?

The fact is that there is not enough money in the universe to support the kind of Government we have today and things will have to change radically.

[GH]

I think most on this blog recognize the State could function on a lot less money and our children would still go to school, police would still ticket speeders and fire-fighters would still put out fires, but just to appease those who believe more taxes are the answer. Say for the sake of argument we repealed Prop 13, increased sales tax to 30% and increased State income tax to 30% etc, and were able to double State Revenue.

OK, problem solved. Schools could get all the extra money they need to provide our children with the finest possible education, police would all all over the place. Fires would almost put themselves out, Pot smokers could all be given life sentences without possibility of parole and we could provide for all the illegals who could ever want to come here.

Don’t you think it more likely that raises and bonuses would be flinging around like never before, retirements for senior officials who would surely proliferate would increase massively, and in the end there would be no money for teachers, prisons, firemen etc?

The fact is that there is not enough money in the universe to support the kind of Government we have today and things will have to change radically.

[GH]

I think most on this blog recognize the State could function on a lot less money and our children would still go to school, police would still ticket speeders and fire-fighters would still put out fires, but just to appease those who believe more taxes are the answer. Say for the sake of argument we repealed Prop 13, increased sales tax to 30% and increased State income tax to 30% etc, and were able to double State Revenue.

OK, problem solved. Schools could get all the extra money they need to provide our children with the finest possible education, police would all all over the place. Fires would almost put themselves out, Pot smokers could all be given life sentences without possibility of parole and we could provide for all the illegals who could ever want to come here.

Don’t you think it more likely that raises and bonuses would be flinging around like never before, retirements for senior officials who would surely proliferate would increase massively, and in the end there would be no money for teachers, prisons, firemen etc?

The fact is that there is not enough money in the universe to support the kind of Government we have today and things will have to change radically.

[Author]

Posts