California treasurer warns of IOUs, if no cuts

[Bad_Daddy 2,209]

http://news.yahoo.com/s/ap/20110123/ap_on_bi_ge/us_california_budget

BERKELEY, Calif. – State Treasurer Bill Lockyer says California could be forced to issue IOUs as early as April or May if state lawmakers don't cut state spending soon.

Lockyer, a Democrat, said Saturday that California could run short of cash as it faces a $25.4 billion deficit through the end of June 2012, including an $8.2 billion gap in the fiscal year that ends in July.

He says if the Legislature fails to address what he termed a "substantial shortfall," California will run out of cash to pay the bills.

Gov. Jerry Brown has proposed $12.5 billion in cuts and borrowing, and wants to ask voters to extend a series of temporary taxes in June.

Brown spokeswoman Elizabeth Ashford said Lockyer's comments underscore the urgency of Brown's March budget deadline.

[The_Dude 1,142]

I'd still rather live in California than a barren state full of mobile meth labs and abject depression. No wonder Alaska has the highest suicide rate.

[Bad_Daddy 2,209]

I'd still rather live in California than a barren state full of mobile meth labs and abject depression. No wonder Alaska has the highest suicide rate.

Not to mention we have had the highest alcohol per capita for decades upon decades now...and the highest thc content for weed...since forever .oh and rapes per capita..I think we lead on that one also. The rape thing and suicide thing can be blamed on the Eskimo's and Indians for the most part. They make it a habit of sc*wing their relatives...sisters, daughters, etc... Sniffing gas is also a biggy for them. Village life.

[SuperDuper! 230]

Not to mention we have had the highest alcohol per capita for decades upon decades now...and the highest thc content for weed...since forever .oh and rapes per capita..I think we lead on that one also. The rape thing and suicide thing can be blamed on the Eskimo's and Indians for the most part. They make it a habit of sc*wing their relatives...sisters, daughters, etc... Sniffing gas is also a biggy for them. Village life.

Thanks for trying to keep a positive attitude in a world surrounded by lunatics!

In our short life span on earth, it is vital to keep a positive attitude anyways, and not bring down the room with bad news.

Best wishes in trying to make a happy life in your corner of space ship earth .

States are going BK from west coast to east coast, but that does not mean that our days must be negative and dire....

BUMMER

[Trumplestiltskin 5,791]

I thought California had already made huge cuts. Whats left?

[Bad_Daddy 2,209]

I thought California had already made huge cuts. Whats left?

I have a few ideas on that one.

1) We could give it back to Mexico...and then build a giant wall around it with limited visitors visa's (90 days tops),

2) or we give it "Independence" and build a giant wall around it..with the limited visa thing.

[DEDixon 39]

I thought California had already made huge cuts. Whats left?

no major cuts that i know of. they just keep selling bonds and in budgets they have rosey revenue projections, they pass budgets with rosey revenue projects knowing full well those projections are total BS, then next budget deficit is bigger than the previous because rosey revenue projection were not even close, they are just kicking the can down the road.

the feds under clinton reformed welfare, but california reformed welfare too, to match what clinton ended.

it is really bad here, super bad. when they finally have to make cuts, it will be hard, very very hard on a lot of people that are here only because california is so generous.

There has been talk of claiming bankruptcy. Not serious talk, but it has been mentioned - the pros and the cons.

i have friends who are illegally in this country, because it is hard to live in CA without having at least a few friends who are illegal. one who is illegally i consider my brother, that is how close we are, so i really wish he could somehow become legal. he has a heart of gold. okay, with all that said, i think CA does cater to illegals too much. illegals aren't CA's worst problem, but considering how many live in CA, they are a drain on the budget in so many ways. i don't really agree with deporting all of them, but i do think CA should implement some policies that makes them consider living in a different state.

what i really wish the US would do is implement a guest worker program that is like those in S. Korea, Dubai, S. Arabia, Qatar, etc. if we had such a program, people would come and go as their contract ended, they actually would want to go home so they could see family and friends. and just because they go home doesn't mean they can't come back working under a new contract - knowing they can come back gives them no reason to fear leaving. under the program, however birth right citizenship would have to end.

just seems there could be a better system, one that brings workers here and keeps their kids in mexico so America education system doesn't suffer and health care for americans doesn't suffer.

[Bad_Daddy 2,209]

i have friends who are illegally in this country, because it is hard to live in CA without having at least a few friends who are illegal. one who is illegally i consider my brother, that is how close we are, so i really wish he could somehow become legal. he has a heart of gold. okay, with all that said, i think CA does cater to illegals too much. illegals aren't CA's worst problem, but considering how many live in CA, they are a drain on the budget in so many ways. i don't really agree with deporting all of them, but i do think CA should implement some policies that makes them consider living in a different state.

Stop right there ! This is why I believe the rest of the US would benefit by building a giant wall around California. Why push your ####### on other states ? Oregon and Washington have had it up to their necks with California imports, which has led to California laws, liberal #######, and now both of those states are on the brink. No, send the illegals back, but don't try to send them to other states. You can keep them.

[Pooky 3,825]

i have friends who are illegally in this country, because it is hard to live in CA without having at least a few friends who are illegal. one who is illegally i consider my brother, that is how close we are, so i really wish he could somehow become legal. he has a heart of gold. okay, with all that said, i think CA does cater to illegals too much. illegals aren't CA's worst problem, but considering how many live in CA, they are a drain on the budget in so many ways. i don't really agree with deporting all of them, but i do think CA should implement some policies that makes them consider living in a different state.

What a hypocrite.

Illegal is illegal. If they don't belong in California, then they don't belong in the USA.

[Ban Hammer 13,476]

nimby has come full circle.

[Trumplestiltskin 5,791]

no major cuts that i know of. they just keep selling bonds and in budgets they have rosey revenue projections, they pass budgets with rosey revenue projects knowing full well those projections are total BS, then next budget deficit is bigger than the previous because rosey revenue projection were not even close, they are just kicking the can down the road.

the feds under clinton reformed welfare, but california reformed welfare too, to match what clinton ended.

it is really bad here, super bad. when they finally have to make cuts, it will be hard, very very hard on a lot of people that are here only because california is so generous.

There has been talk of claiming bankruptcy. Not serious talk, but it has been mentioned - the pros and the cons.

i have friends who are illegally in this country, because it is hard to live in CA without having at least a few friends who are illegal. one who is illegally i consider my brother, that is how close we are, so i really wish he could somehow become legal. he has a heart of gold. okay, with all that said, i think CA does cater to illegals too much. illegals aren't CA's worst problem, but considering how many live in CA, they are a drain on the budget in so many ways. i don't really agree with deporting all of them, but i do think CA should implement some policies that makes them consider living in a different state.

what i really wish the US would do is implement a guest worker program that is like those in S. Korea, Dubai, S. Arabia, Qatar, etc. if we had such a program, people would come and go as their contract ended, they actually would want to go home so they could see family and friends. and just because they go home doesn't mean they can't come back working under a new contract - knowing they can come back gives them no reason to fear leaving. under the program, however birth right citizenship would have to end.

just seems there could be a better system, one that brings workers here and keeps their kids in mexico so America education system doesn't suffer and health care for americans doesn't suffer.

Have there not already been severe budget cuts in state departments? I thought Arnie had laid off tens of thousands of state workers.

What exactly needs cutting further? Education? Emergency services?

[DEDixon 39]

Have there not already been severe budget cuts in state departments? I thought Arnie had laid off tens of thousands of state workers.

What exactly needs cutting further? Education? Emergency services?

honestly, no major cuts that i know of. teachers were threatened with losing their jobs, but Obama admin stepped in to somehow fund teachers.

they are saying everything needs to be cut, a little of everything as a way to be fair. as i remember it, brown, the new governor, under his new budget, he saves k-12 from cuts, but doesn't save the universities. brown's budget is also a bit "wishful thinking" because he wants a special election to extend temporary taxes further out so although he has a budget proposal, if the people say no to extending the taxes, i guess finally they will have to make real cuts.

Arnie made state workers take a furlough. certain departments like the DMV had to close 3 days a month to save the state money (non-emergency departments closed 3 friday's a month).

i think the concern with laying off state and county employees is that CA already has 12 percent unemployment. laying off state and county workers - it solves one problem and adds to another.

**********

hehe i knew i'd get a negative reaction about my illegal alien comments, but oh well, that's the way i see it. after all, AZ's law which every conservative here supported was basically going to push illegals to another states. they were not going back to mexico.

[Pooky 3,825]

hehe i knew i'd get a negative reaction about my illegal alien comments, but oh well, that's the way i see it. after all, AZ's law which every conservative here supported was basically going to push illegals to another states. they were not going back to mexico.

If the Federal government enforced the laws that AZ and another 12 States are seeking to replicate and enforce, then CA wouldn't have a problem. But since Los Angeles declared a boycott of AZ over AZ SB 1070, what did you expect? It was like putting up a neon sign saying "Illegals Welcome Here."

Edited January 23, 2011 by Pooky

[Mr. Big Dog 10,747]

Well, isn't it time for Californians to pay their state taxes in IOUs as well?

[Bad_Daddy 2,209]

California brought this upon themselves. The worse part of it is the ships sinking fast, and their still knocking holes into the hull. It's like they never learn.