Obama Should Tell Cali. to Drop Dead

[Kevin_Kennedy]

During the height of New York City’s financial crisis in the 1970’s, President Gerald Ford had the good sense to turn down Mayor Abe Beame’s request for a federal bailout. The refusal prompted the famous New York Post headline, “Ford to City: Drop Dead.” More than 30 years later, as California Governor Arnold Schwarzenegger makes a similar plea to Washington, I hope President Obama will show similar restraint. Unfortunately, given Obama’s recent string of unwise economic decisions, it’s hard to imagine that his judgment will suddenly improve.

A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.

Obama Should Tell California to Drop Dead by Peter Schiff

 

[Fraulein Hilda]

I agree!

 

[brewerboy]

Absolutely.

Compare it to a dead beat son asking mom and pops for money.

The sooner they grow balls and say "NO" the sooner said deadbeat son will start paying his own way.

 

[Fraulein Hilda]

Of course, the big losers would be public employees unions and illegal immigrants.

 

[Agnapostate]

Been listening to John and Ken again, Hildita?

 

[Fraulein Hilda]

Mark Levin more and more. Unless he gets bumped by the Dodgers. I do very much want this state to go broke, though. It would be the best thing for everyone.

 

[Tank]

California is already dead:

 

[Agnapostate]

Ooookaaay, Rank...you could have left that one in your personal photo album.

 

[Old Rocks]

Yes, let's just turn our backs on the eighth largest economy in the world. Won't hurt the rest of us if it tanks, will it?

Seems the right wing nuts are not going to be happy without taking the country down into a full great depression.

 

[Ravi]

During the height of New York City’s financial crisis in the 1970’s, President Gerald Ford had the good sense to turn down Mayor Abe Beame’s request for a federal bailout. The refusal prompted the famous New York Post headline, “Ford to City: Drop Dead.” More than 30 years later, as California Governor Arnold Schwarzenegger makes a similar plea to Washington, I hope President Obama will show similar restraint. Unfortunately, given Obama’s recent string of unwise economic decisions, it’s hard to imagine that his judgment will suddenly improve.

A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.

Obama Should Tell California to Drop Dead by Peter Schiff

Schiff seems to be dabbling in revisionist history.

At the National Press Club on October 29th, President Gerald Ford said he would not agree to guarantee New York's loans. He thought his stance would force New York to become more fiscally responsible. The next morning, THE DAILY NEWS headline covering the story read, "Ford to City: Drop Dead." Many outside the city, even in the suburbs, thought that New York was going to die, and good riddance.

A month after telling New York that the federal government would not come to the city's aid, Ford agreed to guarantee New York's loans. New York balanced the city's budget by 1981, a year ahead of schedule. The federal government made millions of dollars on the transaction from the interest paid on the loan. New York City became a model of fiscal austerity, cutting social programs and public building projects.

Big Apple History . Business and Politics . Inventive Accounting | PBS KIDS GO!

 

[alan1]

Yes, let's just turn our backs on the eighth largest economy in the world. Won't hurt the rest of us if it tanks, will it?

Seems the right wing nuts are not going to be happy without taking the country down into a full great depression.

Why the fuck should the fiscally responsible states pay for the fiscal irresponsibility of CA? Maybe CA should have used their economic powerhouse to do right by themselves instead of being stupid.

 

[HUGGY]

I agree!

Appropriate avatar. Bob Crane was a full blown perverted freak. Thanks for being honest.

More input from the neo cons that refuse responsibility for the destruction of everything meaningful in our country. Thats gonna be some resume.

Question?...after you succesfully destroy the U S ...what next?

 

[alan1]

I agree!

Appropriate avatar. Bob Crane was a full blown perverted freak. Thanks for being honest.

More input from the neo cons that refuse responsibility for the destruction of everything meaningful in our country. Thats gonna be some resume.

Question?...after you succesfully destroy the U S ...what next?

Interesting POV you have.
CA consistently votes democrat, yet it is the neo-cons that fucked them up?
Common sense and logic seem to have failed you.

 

[Fraulein Hilda]

John and Ken are too liberal for me. Democrats are bankrupting this state.

 

[Harry Dresden]

Been listening to John and Ken again, Hildita?

the trouble with this statement Agna is John& ken could give a rats ass about the illegals and they are for SPENDING CUTS....and against the bailout....try listening before you make your idiotic assumptions....

 

[Fraulein Hilda]

Arnold Schwarzenegger is a Kennedy now.

 

[Harry Dresden]

Yes, let's just turn our backs on the eighth largest economy in the world. Won't hurt the rest of us if it tanks, will it?

Seems the right wing nuts are not going to be happy without taking the country down into a full great depression.

remember what group of politicians runs this state Rocks....and if they did bail them out,they would just use that money ...ON THE SAME THINGS THAT GOT THEM HERE

 

[Fraulein Hilda]

I agree!

Appropriate avatar. Bob Crane was a full blown perverted freak. Thanks for being honest.

More input from the neo cons that refuse responsibility for the destruction of everything meaningful in our country. Thats gonna be some resume.

Question?...after you succesfully destroy the U S ...what next?

You complete me.

 

[Harry Dresden]

Of course, the big losers would be public employees unions and illegal immigrants.

the illegals should be in the losers column....

 

[Fraulein Hilda]

Yes, let's just turn our backs on the eighth largest economy in the world. Won't hurt the rest of us if it tanks, will it?

Seems the right wing nuts are not going to be happy without taking the country down into a full great depression.

Not [fill in the blank] will take the country down into a full great depression.

That's getting old.