California faces deadline tomorrow to avoid junk bond status

I'll be the first to blame a Republican for overspending or taxing too much.....it's not the name....it's the principles that matter....

California is going to JUNK status because of the liberal principles of tax and spend beyond their means...same thing the Big O is doing...

Sure he is. If you want to say this is Obamas economy, well California is Arnolds economic, and he is a Republican. So that means we get to blame Californias woes on the Republicans. Fun how consistency works, eh?

What an idiot you are Nickie. Obama has the democrats in control of the House and Senate. Here is the twist nickie...Arnie is swimming against the current with an overwhelming number of democrats he has to deal with. Once again, take of your partisan glasses and view the world as it really is nickie.

Arnie aint doin a whole lotta swimmin
face it, California elects mistake after mistake

The state of California must pass a budget by tomorrow or its credit rating could tumble to junk status. Both Moody's and Standard & Poor's have warned the state of a multinotch downgrade if the state fails to approve a budget.

California currently has an A2 rating, the lowest of any state. Governor Arnold Schwarzenegger needs to close a $24.3 billion budget deficit and has threatened to cut essential services if a budget agreement cannot be reached.

On Wednesday, July 1, California Controller John Chiang will begin to pay bills with IOUs because he will run out of cash if the legislature doesn't deal with the deficit for the coming fiscal year. Fitch Ratings downgraded California's general obligations Friday to single-A-minus from single-A, citing "the magnitude of the state's financial and institutional challenges and persistent economic and revenue weakening."

DailyFinance

There is nothing he can do but not sign what comes to him in the form of a bill. In the beginning he tried with a bunch of initiatives, and the libs voted them all down in a special vote in the state. At that point he gave up. No republican governor can work in California with any success.

Actually the problem is that they can't tax, because the Republicans over there are batshit insane, as opposed to just normally insane like most other places.

What an idiot you are Nickie. Obama has the democrats in control of the House and Senate. Here is the twist nickie...Arnie is swimming against the current with an overwhelming number of democrats he has to deal with. Once again, take of your partisan glasses and view the world as it really is nickie.

What an idiot your are nickie. California's income tax is second highest in the nation, now that New York just upped theirs. They have anywhere between 7 1/4% to 8 1/2% sales tax. It isn't about taxing...they are hit hard nickie, the problem is your democrat buddies can't stop the spending when they don't have any money. Take off your partisan glasses and view the world as it really is nickie.