Toro
Diamond Member
The basket case known as California - one of the richest states in the nation - is going broke, and the federal government apparently ain't going to be bailing them out.
White House says no to California budget help | U.S. | Reuters
And rightfully so.
Spending is going to have to be cut, given how fast it has risen over the years. Taxes should not go up, or at least not appreciably.
Of course, you have to wonder about how dumb the citizens are, having voted for a $10 gazillion new rail line but voting against funding it.
The White House on Tuesday dashed hopes that the federal government would help California overcome a mammoth budget crisis that has brought the state dangerously close to an economic meltdown, saying the state will have to solve the problem on its own.
"It's obviously not an easy time for the state of California," White House spokesman Robert Gibbs told a briefing when asked if the administration would provide emergency financing for the state.
"We'll continue to monitor the challenges that they have, but this budgetary problem unfortunately is one that they're going to have to solve," Gibbs said.
White House says no to California budget help | U.S. | Reuters
And rightfully so.
Spending is going to have to be cut, given how fast it has risen over the years. Taxes should not go up, or at least not appreciably.
Of course, you have to wonder about how dumb the citizens are, having voted for a $10 gazillion new rail line but voting against funding it.