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alstry (36.32)

As We Collectively Stick Our Heads In The Sand

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November 22, 2009 – Comments (1)

The Debt That Drove America Is Now Shutting America Down

Newspaper circulation may be worse than it looksRising unemployment taxes could hinder hiring

For years California has courted a reputation as an eco-friendly, green-minded leader, but the state now finds its most basic program of recycling beverage bottles and cans mired in debt and litigation.

http://www.sacbee.com/topstories/story/2340449.html

California Portland Cement Plant - 3/4 of Workforce?

Hamilton County School Board - Considers Job Cuts 

Gov. Christie New Jersey - Budget Cuts may equal Layoffs

City of Newburgh - Further Layoffs Need

Southern Oklahoma Resource Center - Job Cuts Planned

Saturn of Route 422 Youngtown Road

Save-A-Lot Grocery Store in Portland

2 Law Libraries in Morris and Sussex State Courthouses

Sara Lee Corporation Closing Greenville Bakery

Tinsley Furniture

ALL OF THESE CLOSURES WILL CAUSE COMMERICAL PROPERTY VALUES TO CRASH WHICH WILL CAUSE TAX RECEIPTS TO EVAPORATE

Landmark skyscrapers, signature hotels and upscale retailers glitter in the San Francisco skyline and enhance its cachet. But with commercial real estate slumping, they soon may subtract badly needed cash from the city's coffers.
...
Collectively, those office towers, hotels, shopping centers and apartment buildings have an assessed value of $21.25 billion - but their owners say they're worth about half that amount. If those claims stand, that could wipe $115.78 million off the property taxes the city collects.
...
The potential property tax reductions come at the worst possible time for a city already grappling with budget cuts and deficits. San Francisco's controller warned last week that the city faces a potential half-billion-dollar deficit in its next fiscal year.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/11/22/MN2F1AMSFC.DTL&tsp=1

CUTS WILL ONLY CAUSE MORE CONTRACTION WHICH WILL CAUSE MORE CUTS........

1 Comments – Post Your Own

#1) On November 22, 2009 at 4:29 PM, alstry (36.32) wrote:

You have to admit it is sorta strange that Congress is debating on how to spend more money on health care when America is running out of money and shutting down WHILE running a deficit  approaching 20%of GDP..........you begin to wonder where is this all heading?

COLOMBIA warned overnight that its forces were on "maximum alert'' and were prepared to defend against any attack, amid rising tensions with neighbouring Venezuela.

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