Should The U.S. Government Bale out California?

[Meister]

Ad reminds Whitman who was governor 30 years ago

(CNN) – Look too quickly and one may think Meg Whitman, the GOP nominee for governor in California, is herself heaping praise on rival Jerry Brown in Brown's latest TV ad.

The new spot launching Tuesday opens with Whitman declaring, "30 years ago, anything was possible in this state."

The problem for Whitman, as Brown's ad quickly notes, is that Brown himself was governor of California 30 years ago.

The spot than lists a variety of Brown's accomplishments during his first tenure as governor from 1975-1983 before cutting back to Whitman saying, "It's why I came to California so many years ago."

The most recent polls show Brown, California's attorney general and the Democrats' gubernatorial nominee, with a high single-digit lead over Whitman.

Ad reminds Whitman who was governor 30 years ago – CNN Political Ticker - CNN.com Blogs

Maybe Jerry will bring Cali back..

The first thing jerry should do is stop paying federal tax revenues, raise property taxes 3% and lower income taxes by 5%, then take the "once" federal income deductions and turn them over to the state. One hard year and we would be free of the Leach-DC forever.

Does Texas pay any federal taxes? I don't think so.

(Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming impose no income tax.)

They would have to overturn Prop. 13 to raise the property taxes.

 

[uscitizen]

They have Hay ? or is it Hey ?
murkin.

yeah I was wondering if it was small square bales, large square or rolls.

 

[Immanuel]

I am not so sure that we SHOULD bail out either of those three states, but if we felt we HAD TO bail out banks and the auto industry then I think the answer will be that we MUST bail out the states as well... more government spending we can't afford.

Immie

So.....they can do it all over again, Immie? Ca. won't change, and maybe the feds should run the state like they are with GM?

My point was not that we should bail them out, but rather that we probably will bail them out. They will use the same excuse they used to bail out the banks and auto industry.

Immie

 

[Trajan]

Do you know why the conservabots called Brown "moonbeam"? This is a riot. Back in the early 70s, Brown had this whacked idea that we should like, get this, put a ring of, Omigod, I'm giggling when i think of it, satellites around the planet. LOL! Yeah, the idiot thought it would be a good idea to "beam" communications signals off these sattelites and thereby, what a moron, have near instantaneous global communications!

Can you believe it? No wonder the neanderthalls calling themselves conservatives came up with a cute derogatory name for the man!

wow wee!!! hey thats great,

my question is why the hell he didn't d his job and deal with something of this earth like, oh, the Med fly issue until it blew up in his face, maong other things?

 

[McDowell's]

Ad reminds Whitman who was governor 30 years ago

(CNN) – Look too quickly and one may think Meg Whitman, the GOP nominee for governor in California, is herself heaping praise on rival Jerry Brown in Brown's latest TV ad.

The new spot launching Tuesday opens with Whitman declaring, "30 years ago, anything was possible in this state."

The problem for Whitman, as Brown's ad quickly notes, is that Brown himself was governor of California 30 years ago.

The spot than lists a variety of Brown's accomplishments during his first tenure as governor from 1975-1983 before cutting back to Whitman saying, "It's why I came to California so many years ago."

The most recent polls show Brown, California's attorney general and the Democrats' gubernatorial nominee, with a high single-digit lead over Whitman.

Ad reminds Whitman who was governor 30 years ago – CNN Political Ticker - CNN.com Blogs

Maybe Jerry will bring Cali back..

The first thing jerry should do is stop paying federal tax revenues, raise property taxes 3% and lower income taxes by 5%, then take the "once" federal income deductions and turn them over to the state. One hard year and we would be free of the Leach-DC forever.

Does Texas pay any federal taxes? I don't think so.

(Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming impose no income tax.)

Wtf are you talking about?

 

[The Infidel]

Maybe Jerry will bring Cali back..

The first thing jerry should do is stop paying federal tax revenues, raise property taxes 3% and lower income taxes by 5%, then take the "once" federal income deductions and turn them over to the state. One hard year and we would be free of the Leach-DC forever.

Does Texas pay any federal taxes? I don't think so.

(Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming impose no income tax.)

Wtf are you talking about?

Texans pay no state income tax, but Im not sure what Shintao is talking about either.

 

[McDowell's]

I guess CPAs all over Texas have been scamming everyone in the state into paying Federal income taxes all these years?

 

[Jroc]

Piss off you Cali haters!! You're just jealous of our great state's natural beauty, hot babes, and awesome weather!!

People want to live here and business's want to stay here, we just need to help make it happen with pro-business policies and taxation. As on the Federal level, we do not have an income problem in California, we have a spending problem - the next governor has his/her work cut out for them.

Come on man lets get real here.. Businesses are leaving you're state in droves, because of the high taxes and stupid environmental regulations there. You guys can't even generate you're own power, you have to buy it from other states, you guys don't want oil drilling of you're coast which would bring in billions and add tens of thousands of jobs. Yeah you have a beautiful state, but its been run by liberal wakos for too long, liberal utopia look were it's taken you, and you guys are about to relect that wakos Jerry Brown again? What a joke... I say don't send Cali a friken penny.

 

[Gentle Storm]

California doesn't need it. It just looks worse than it is. California has huge debt, true, but also a wealthy population to easily take care of it. They'll just figure out how to squeeze it out of the rich.

On top of that Schwarzenegger agreed to be the test model for all the green garbage on the condition they would get help if it failed.

It failed.

California will get help unless Obama isn't true to his word.

Uh oh. Can you spell Stupak?

 

[loosecannon]

i dont think there's a choice in the matter. it does pose moral hazard, but notwithstanding, there's something worse about a US state defaulting in US dollars.

I live there, in CA. We have deep systemic problems that need to be addressed. Please don't bail us out until we address those problems.

May the courts only be so kind to us as they were to GM and Chrysler!

Seriously, Dude, the unions need to be reined in and hard. Pension funds need to be restructured, we only managed to pass the last two budgets because 75% of the "cuts" were superficial accounting tricks.

The only players more out of touch than the unions are the dems in the Leg. Those guys are nucking futs!

 

[antagon]

i dont think there's a choice in the matter. it does pose moral hazard, but notwithstanding, there's something worse about a US state defaulting in US dollars.

I live there, in CA. We have deep systemic problems that need to be addressed. Please don't bail us out until we address those problems.

May the courts only be so kind to us as they were to GM and Chrysler!

Seriously, Dude, the unions need to be reined in and hard. Pension funds need to be restructured, we only managed to pass the last two budgets because 75% of the "cuts" were superficial accounting tricks.

The only players more out of touch than the unions are the dems in the Leg. Those guys are nucking futs!

the biggest systemic problem CA deals with is coping with the infrastructure and commerce from which the rest of the country benefits without the wherewithal to exploit or capture any of it. raising taxes and regs has precipitated an exodus of businesses over the last decade as has the inflation of property values. the unfortunate side effect of federal economies is the averaging effect which the central government facilitates. if california issued their own dollar, collected their own tax and leveraged trade to land-locked neighbors, they'd not likely be upside-down... welfare-state and unions notwithstanding.

the biggest leaches off the california economy are other states. this is true of all of the economic powerhouse states in the union. even texas has succumb.

 

[Titanic Sailor]

Jerry Brown will not reform government in California, so not sure why anyone voting for him.

A Democrat is against government reform. It means cutting their hack buddies and voter base in government, and they can not do it. Unless it's social workers who have no unions, or care for the helpless, that Democrats WILL cut. They already have in our nation, first things to go.

 

[JamesMorrison]

It does seem that some have had some fun regarding the misspelling in my original question but none, other than Annie seemed to have considered that the misspelling was, possibly, intentional.

Sounds like a verb to me?

vb
1. (Life Sciences & Allied Applications / Agriculture) to make (hay, etc.) into a bale or bales
2. to put (goods) into packages or cartons
3. Austral and NZ to pack and compress (wool) into wool bales See also bail out

Yep, bale it up and ship it out.

But getting back to the subject, that being the baleful financial situation into which CA has placed itself, a few words:

Looking at the state of CA, in its pre-election politics we find that it, unlike many other states, has not benefited from a large influence from TEA party types. Even the Senate and Governor’s races have seen establishment type GOP candidates running. Further, the liberal legislature is firmly ensconced.

Regarding this point Eric Erickson of RedState refers to a “tsunami” and notes something more than the 60 seat pick-up for the GOP in the House:

” But that's not the half of it. The real story is the underreported story of the night - the Republican pick ups at the state level… North Carolina Legislature is Republican for the first time since 1870. Yes, that is Eighteen Seventy.

The Alabama Legislature is Republican for the first time since 1876.

For those saying this is nothing because it is the South, consider these:
The entire Wisconsin and New Hampshire legislatures have flipped to the GOP by wide margins.

The State Houses in Indiana, Pennsylvania, Michigan, Ohio, Iowa, Montana, and Colorado flipped to the GOP.

The Maine and Minnesota Senates flipped to the GOP.

The Texas and Tennessee Houses went from virtually tied to massive Republican gains. The gains in Texas were so big that the Republicans no longer need the Democrats to get state constitutional amendments out of the state legislature.

These gains go all the way down to the municipal level across the nation. That did not happen even in 1994.”

But none of this has happened in CA. Via the recent elections, we now know that Californians have not seen fit to move towards fiscal conservatism. Additionally, it looks that it will now pass a measure that will allow it to more easily raise taxes. As has been noted, this might further drive out even more people and companies to other low tax states thereby continuing CA’s downward spiral, thus my question.

The election has now shown us that citizens of an increasing number of states feel exactly the way about bailouts, in general, that most posters here feel about one specific to CA i.e. enough is enough. So an actual CA bailout may depend on timing and, of course politics. If such a requirement became reality in the next two years it is quite arguable that the Dems would use this to try to push back and demonize conservatives running in 2012. More probably, such a CA meltdown would occur after the 2012’s wherein progressives would use this against a GOP possibly in control of, not only Congress, but the Executive as well with a much lower probability of success. Political pressure would be immense to bail out the state.

But where might this buck stop? Other states receiving bailouts too? The Obama stimulus itself devoted a significant proportion to propping up state spending. Moral hazard writ large. It has often been said that where CA goes, the nation follows. Hell, it has its own cap and trade bill which they just decided to move forward on! I posed the question to point out the seriousness of the financial situation. If we Americans as a whole follow CA on this path, who will bail us out?

JM

 

[Foxfyre]

California had the chance to elect a person with a proven track record for good management and accomplishment. Jerry Brown does have some entries in his resume that are commendable re governing, but he is not strong enough to buck the loonbat fringe element that seems to be so deeply intrenched in California. Meg, I think, would have had nothing to lose by taking them on head on.

You can't have a nanny state that refuses to exploit its own natural resources, that refuses to allow others to do so, that thinks you can tax and spend itself rich while encouraging the most irreponsible and discouraging the more responsible so that they leave, taking their capital and tax dollars with them, and also have a state that is healthy, solvent, and producing good jobs. Most of California's largest communities and almost all coastal cities have some of the highest taxed real estate in the country with values inflated through the roof. California also boasts some of the highest salaries in the country as well as housing some of the nation's poorest citizens. In short it is out of balance on so many fronts, I don't know how anybody would go about fixing the worst of the problems there.

But I sure as hell don't want the rest of the country to get soaked for one state's incompetence, impropriety, and unbalanced approach to things.

 

[cutter]

I am a life long California Republican and I say NO BAILOUT! The Liberal Democrats that control LA and San Fran which seems to control the entire state need to deal with what they have created. Nothing in this country should be too big to fail. Not the Banks, Not the States, NOTHING. Either they can do what they have promised or they can fail and negotiate something they can live with. It Is Not The Federal Governments Place To Bail Any State Out.California has made it's bed and now they can sleep in it.( bet you haven't heard that saying for a while)

 

[JamesMorrison]

I am a life long California Republican and I say NO BAILOUT! The Liberal Democrats that control LA and San Fran which seems to control the entire state need to deal with what they have created. Nothing in this country should be too big to fail. Not the Banks, Not the States, NOTHING. Either they can do what they have promised or they can fail and negotiate something they can live with. It Is Not The Federal Governments Place To Bail Any State Out.California has made it's bed and now they can sleep in it.( bet you haven't heard that saying for a while)

Here's one who's real world application has, apparently, fell into disrepute:

A Penny Saved is a Penny Earned.

I know how lonely you might feel, I'm from South Jersey, but things are starting to look up now that Conservative rock star Chris Christie is working his magic!

JM

 

[Procrustes Stretched]

There are 3 states whose profligate spending and generous deals with public employees...

why do you hate teachers cops and firemen?

 

[The Infidel]

There are 3 states whose profligate spending and generous deals with public employees...

why do you hate teachers cops and firemen?

Talking point alert!

 

[The T]

Why should any Gubmint or other Union Type have a guaranteed job? And his comment isn't about police and firefighters or teachers Dantoid...

That shit is old and tired. Get a new fuckin' gig already.

 

[The T]

There are 3 states whose profligate spending and generous deals with public employees...


Talking point alert!

Bigtime.