California facing higher $16 billion shortfall

[Truthmatters]

he gutted infrastracuture projects you asshole

 

[Truthmatters]

He also helped cause the energy crisis

 

[Trajan]

so you keep stumbling around google trying to invent shit to stick, fail .

now, IF you had a brain you have said hey he did start the drive for energy de-regulation. Then again along with the budget surplus ala clinton and the repeal of glass steagell...you have no idea how to respond to that do you? thats what hackdom gets you.

 

[Truthmatters]

Wilson cut infrastructure spending in Cali.

Infrastructure is what made cali great for business and population growth

 

[georgephillip]

"Q.Why a state bank?

A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"

2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?

State Bank for California

 

[Political Junky]

Institutional Causes of California's Budget Problem

Abstract:
Since the early 1990s, California has experienced a recurring budget crisis. This article examines the combined budgets of state and local government and the institutions for creating these budgets to ascertain the source of the problem. The facts are that the state collects more taxes and fees as a percent of income than most other states, but local government has lower revenues in California. Total revenues to all governments as a percentage of income are very near the national average. On the expenditure side, the state spends less than the average for other states, but local governments spend much more. High local expenditures are financed by revenue transfers from the state that account for about 40 percent of the state’s budget. The cause of California’s unusual fiscal relationship is decades of initiatives that more severely constrain local revenues than state revenues. The state has responded by creating a system of state-local transfers that allow local governments to face a form of soft budget constraint, leading to excess local spending and lack of clear accountability for the state’s recurring fiscal crisis. Because the cause is the cumulative effect of numerous state-wide initiatives, the only plausible cure is initiative reform and revision of numerous initiatives, which most likely can be accomplished only through a state constitutional convention. All other pending reforms are at best palliatives, and many would make the fiscal situation worse.

i.e Prop 13 is the cause of all this.
Bullshit.
The cause of all of this, as everyone but you sees, is that CA is filled with public sector unions demanding and getting outsize wage and benefits packages. This increases budget demands, leading to higher taxes. Couple that with the fruit n nut mandates on everything the state produces and the result is high productivity workers and companies fleeing the state, reducing tax revenues.

Economy of California - Wikipedia, the free encyclopedia

California's economy is the eighth largest economy in the world (2011),[9] if the states of the U.S. were compared with other countries.[10][11] As of 2010, the gross state product (GSP) is about $1.9 trillion, which is 13% of the United States gross domestic product (GDP).[12]

 

[The Rabbi]

Thanks, Doctor Irrelevant.

 

[Truthmatters]

No pay for lawmakers until they produce 'balanced' budget | California Watch

 

[CrusaderFrank]

"Q.Why a state bank?

A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"

2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?

State Bank for California

When it goes broke, you clean it up

 

[Harry Dresden]

he gutted infrastracuture projects you asshole

really?....was all these overpasses and freeway improvements around here a donation from someone?.....i could have sworn the workers wore vests that said CAL-TRANS on their backs.....got anymore bullshit Cum bucket?....

 

[Ariux]

The government of California tax revenues are higher than ever, and, they want a tax increase for "schools and public safety". In reality, the extra revenue will go to subsidizing illegal immigration and teaching your children the art of sodomy.

 

[Harry Dresden]

he gutted infrastracuture projects you asshole

he did you stupid fuck?......this started in 1991 when he took office.....for someone who gutted these things an awful lot was done......eat shit you lying piece of dried up Milt...

Orange County Transportation Authority

 

[Harry Dresden]

howard Jarvis is NOT a dem

no shit fuckhead read what posted.....

 

[georgephillip]

"Q.Why a state bank?

A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"

2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?

State Bank for California

When it goes broke, you clean it up

"Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base.

"What it needs is a new source of revenue, something that won’t squeeze consumers, homeowners, or local business.

"A state-owned bank can provide that opportunity. North Dakota, the one state that currently has its own bank, is the only state to be in continuous budget surplus since the banking crisis began.

"North Dakota’s balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million and is debating further cuts.

"It also has the lowest unemployment rate, lowest foreclosure rate and lowest credit card default rate in the country, and it hasn’t had a bank failure in at least the last decade."

North Dakota began doing business as the State Bank of North Dakota in 1919.
What makes you think California can't do at least as well?

CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG

 

[CrusaderFrank]

"Q.Why a state bank?

A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"

2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?

State Bank for California

When it goes broke, you clean it up

"Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base.

"What it needs is a new source of revenue, something that won’t squeeze consumers, homeowners, or local business.

"A state-owned bank can provide that opportunity. North Dakota, the one state that currently has its own bank, is the only state to be in continuous budget surplus since the banking crisis began.

"North Dakota’s balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million and is debating further cuts.

"It also has the lowest unemployment rate, lowest foreclosure rate and lowest credit card default rate in the country, and it hasn’t had a bank failure in at least the last decade."

North Dakota began doing business as the State Bank of North Dakota in 1919.
What makes you think California can't do at least as well?

CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG

CA is too fucked up to have its own bank.

The Illegals need to move back to Mexico and the CA Progressives need to move to France, then, maybe in 10 years CA can THINK about having its own bank

 

[Avorysuds]

It hurts the brain that everyone everywhere keeps spending more yet shit just get worse and worse and worse...

Just open a fucking a book and read some history. Cut Spending, cut bad regulation and if you can lower taxes. Don't lower taxes and regulate and spend more, don't raise taxes and regulate and spend more.

How many times do people have to fail doing the same process before they stop blaming what they have NEVER DONE.

 

[georgephillip]

When it goes broke, you clean it up

"Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base.

"What it needs is a new source of revenue, something that won’t squeeze consumers, homeowners, or local business.

"A state-owned bank can provide that opportunity. North Dakota, the one state that currently has its own bank, is the only state to be in continuous budget surplus since the banking crisis began.

"North Dakota’s balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million and is debating further cuts.

"It also has the lowest unemployment rate, lowest foreclosure rate and lowest credit card default rate in the country, and it hasn’t had a bank failure in at least the last decade."

North Dakota began doing business as the State Bank of North Dakota in 1919.
What makes you think California can't do at least as well?

CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG

CA is too fucked up to have its own bank.

The Illegals need to move back to Mexico and the CA Progressives need to move to France, then, maybe in 10 years CA can THINK about having its own bank

Illegals aren't the problem.
The rich are.

"Revenues from the Bank of North Dakota (BND) have been a major boost to the state budget. The bank has contributed over $300 million in revenues over the last decade to state coffers, a substantial sum for a state with a population less than one-tenth the size of Los Angeles County.

"North Dakota is an oil state, but according to a study by the Center for State Innovation, from 2007 to 2009 the BND added nearly as much money to the state’s general fund as oil and gas tax revenues did. Over a 15-year period, according to other data, the BND has contributed more to the state budget than oil taxes have.

"North Dakota is a conservative red state..." California is much smarter.

CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG

 

[jillian]

see what happens when you let republicans run the country.

Tax revenues disappear along with any stability in the economy to produce more revenue.


They seem to forget that ARNIE presided over the building of this mess.

Arnie was no republican sweet cheeks. Remember he was married to a Kennedy.

I realize you probably have difficulty recognizing that you rightwingmnuts are the aberrant cancer that has co-opted the GOP, but there used to be really smart republicans. You've just run them out of the party.

 

[American_Jihad]

[ame=http://www.youtube.com/watch?v=Oo4OnQpwjkc]Bob Marley-Don't worry be happy - YouTube[/ame]

 

[Oldstyle]

California has been controlled and run by progressives for decades now. It's amusing to watch this board's liberals try to blame the resulting mess on Republicans. Sorry, Kiddies...but just like you can't blame ObamaCare and the Obama Stimulus on the GOP...you can't blame the 16 billion that California is in the hole on the GOP either.

Don't you think it's time for your side to take some responsibility for failed progressive policy?

California has a spending problem...higher taxes isn't going to help because that will simply drive even more businesses out of the State. I know that you hate to admit this (because let's face it...it means that Barry, Harry and Nancy are all full of shit with their plans to "save" America) but California is a microcosm of what's gone wrong with America. If we continue down the path that we've now been placed on by the Democratic Party then we will become California.