CDZ How Long Until the First Blue State goes belly up?

Discussion in 'Clean Debate Zone' started by william the wie, Dec 16, 2017.

  1. william the wie
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    william the wie Gold Member

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    Only CA and IL are technically in default now. Not paying interest on IOUs for CA and not paying vendors for IL and usually these kids of defaults can be and have been ignored for years but the mortgage deduction cap and SALT provisions will get both states junk graded. That will trigger banktuptcy. Then will come other problems such as a criminal investigation of the politicians of both states. There may also be prison terms. I am just trying to figure out when, not if.
     
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  2. shockedcanadian
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    shockedcanadian Platinum Member

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    Its a sad situation. California used to be the place of invention and capitalist pursuit. They are still a place where tech companies head to innovate, but it's becoming dicey.

    The danger will be if the same, backwards thinking that us causing economic dismay to California is exported to places like Texas, Nevada and the like. There are already major cities such as Houston and Dallas that have Democratic leaders, and it's only a matter of time.

    America needs to stand up against socialist practices, I assure you that no rainbow awaits you.
     
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  3. MarathonMike
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    MarathonMike Platinum Member

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    How many Ca cities already declared BK? 5 or 6?
     
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  4. edthecynic
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    edthecynic Censored for Cynicism

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    Don't you DittoTards ever get tired of making fools of yourselves mindlessly parroting Limbaugh Lies?????

    California’s lawmakers should have a surplus next year. Will they spend it or save it?

    The state budget is in good shape to weather a moderate recession, and lawmakers should be able to sock away more money in reserves next year, according to projections the nonpartisan Legislative Analyst’s Office issued Wednesday.

    The LAO’s outlook shows the state would finish its 2018-19 budget year with more than $19 billion in reserves – assuming lawmakers and Gov. Jerry Brown don’t make any more spending commitments. About $11 billion is obligated for the state’s rainy-day fund.

    Lawmakers could spend about $7.5 billion of the surplus, although analysts recommend that they save it to prepare for a recession.
     
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  5. BULLDOG
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    BULLDOG Diamond Member

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    Texas can't afford to fund it's schools. hasn't been able to for several years.
     
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  6. william the wie
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    william the wie Gold Member

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    There's several that have gone bankrupt again, and again in at least one case. I stopped keeping track years ago. And believe it or don't despite the drivel of ed the naïve CA is barely better off than IL where the murder rate is so high because they can't afford to hire competent police in adequate numbers and the no-go zones keep getting bigger. IL is likely to go first with CA a very close second.

    The big question is do the moving vans move into Chicago when the bill reports out of committee in both houses, after signing or after the implementation date. The second big question is when will the vans be available for CA? The CBOE, CME, NYSE and NASDAQ moving out to greener pastures is easier to do than the mess CA is rapidly becoming.
     
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  7. Syriusly
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    Syriusly Diamond Member

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    And by 'the mess California is becoming' you mean of course that California real estate prices keep soaring because demand far outstrips supply.

    No sign that Google, for Facebook, or Salesforce, or Intel are fleeing California- though if they shifted some jobs it sure would help with the upward real estate pressure.
     
  8. Syriusly
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    Syriusly Diamond Member

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    This being the 'clean debate zone'- show us how California is 'not paying interest on IOU's'.

    Give us that citation.

    Meanwhile- California's financial health has steadily improved since 2009.

    S&P raises credit rating in California
     
  9. jwoodie
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    jwoodie Gold Member Supporting Member

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    You conveniently forgot to mention $200 billion in unfunded retirement benefits.
     
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  10. HenryBHough
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    HenryBHough Gold Member Supporting Member

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    California.

    Sorry about the OP's color blindness problem.
     

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