Where Stockton goes today the State of California must surely follow. That
liberal state is over $40 billion in debt and will spend $16 billion more this
fiscal year. What liberals refuse to understand is that when you borrow money
you have to pay it back ..... with interest.My sympathies go to the
vendors and service provides that Stockton owes money to. Maybe Stockton could
ask Obama to get Utah taxpayers to bail them out.
Yeah, California is a mess! I can only imagine how many other cities in that
state are near the same point as Stockton is. California is looking more and
more like Spain every year. Pretty soon there'll be a land grab with
California become annexes of Oregon, Nevada and Arizona...
To Rifleman:We tend to agree on most points. But, I would like to
make a couple clarifications. California owes over 400 billion not 40 billion so
I assume this was just a typo. The 16 billion number(raised from 9 billion a
month ago) will rise again by November's election as sales tax receipts
will fall short again this quarter. The estimated shortfall by November will be
20 billion!If that number sounds familiar it is the same number as
last year. The State Assembly put a plan together again with smoke and mirrors
so they could get paid! But, did nothing to fix the real problems.1. 40
percent increase in state employees with no growth in population to warrant
it.2. 4 Billion for the High Speed rail debackle. That 4 billion will
increase to 40 billion just as the plan started at 40 billion and is now at 219
billion. Obama and Brown want this though it is clear it will never make
money.3. California's proposed rise in Income Tax from 9.5
percent(making over 46k)to upwards of 13.3% will drive thousands of more
employers and high income earners out!
Re: don17 Temecula, CA"We tend to agree on most points. But, I would
like to make a couple clarifications."I didn't realize it
was that much. I do know that California voters recalled Gov. Gray Davis
because of his mishandling of their finances but apparently have a short memory.
Too bad they didn't follow Wisconsin's lead and put a leash on the
public employee unions.
Wisconsin’s economic successes versus California’s economic
problems! Are you liberals learning ANYTHING yet? Probably not!
The biggest problem in stockton and so many other governments is pensions.
Governments somehow could take workers contributions and spend them, simply
assuming there would be more and more workers in the future to pay for
obligations at that time. Actual pension funding never existed. It's
behaviour that would get most people in the private sector arrested. Now they
have to renege on commitments made to retired workers and that's not good,
either. I don't know what the resolution is going to be.
Re: Hutterite American Fork, UT"I don't know what the resolution
is going to be."The Republican Governor of Wisconsin, Scott
Walker, has the idea. He put a leash on public employees and told their unions
that the free ride on the gravy train was over.