Use access key #2 to skip to page content.

alstry (35.42)

Tens of Thousands of Teachers Toast!!!!!!!!!!!!!!!!!!

Recs

16

May 20, 2009 – Comments (8)

CALIFORNIA REJECTS GOVERNATOR!!!!!

Unless a compromise is struck by the end of June, the state could have trouble paying its bills by the end of July.

Political observers say Schwarzenegger and lawmakers will have little choice but to go after even politically sacred programs such as schools. An unusually high two-thirds vote threshold in the Legislature for passing budgets and partisan polarization could combine for a painful summer.

"The choices facing the governor and Legislature are daunting," said Jack Pitney, a political science professor at Claremont McKenna College in Southern California. "Democrats have taken heat for accepting spending cuts. Certain Republicans have taken heat for accepting tax increases, and the heat's only going to get more intense this summer."

Many Californians have been hearing about the state's budget problems but have yet to feel the severity of the crisis. That will soon change, Pitney said.

"For a lot of people, the budget's been an abstraction. But with the next round, there will probably be serious consequences, particularly in the schools," Pitney said.

Last week, the governor said he will consider shortening the school year by seven days, laying off up to 5,000 state employees and taking money from local governments, which likely would translate into cuts to police and firefighting services.

Tens of thousands of teachers also face the prospect of layoffs.

http://news.yahoo.com/s/ap/20090520/ap_on_re_us/us_california_special_election

When Alstry tells you it has NEVER been like this before.......that is the truth!!!!!!

Local governments already face HUGE budget shortfalls as well without further cuts from the state.  The deficit is soooo LARGE, the  structure of CA's economy is broken.  CA is simply the largest and most visible problem facing state and local governments across America.

This could very well be the BIGGEST single economic issue of the Summer and likely be a template of things to come.

Pay attention to this story....in one way or another.....it could impact your current economic in a very significant manner.

Now we will learn if our state and local governments are broke........how will we be affected???

 

8 Comments – Post Your Own

#1) On May 20, 2009 at 10:06 AM, biotechmgr (34.53) wrote:

People think muni bonds are so safe. They will be sorely surprised when defaults and bankruptcies from towns, cities and even states set in.

People need to look at CA as an example of what is unfolding across America. I just wonder what will be left at the end of it.

Report this comment
#2) On May 20, 2009 at 10:09 AM, outoffocus (23.09) wrote:

Mmmm....teachers toast....*drools*

Report this comment
#3) On May 20, 2009 at 10:23 AM, dwot (47.53) wrote:

Shouldn't that say 100,000s of children toast?

Report this comment
#4) On May 20, 2009 at 10:31 AM, alstry (35.42) wrote:

DWOT,

My wife is a grade school teacher in one of the poorest schools in the nation.

It should always be about the kids.

They are our future and you are damn right.

Report this comment
#5) On May 20, 2009 at 10:43 AM, AllStarPortfolio (21.08) wrote:

Hey Alsty, ol' buddie.

Any interest in picking a green thumb for the AllStarPortfolio? Or do you see no green thumbs in the horizon. Metals? Energy? Foreign currency?

Report this comment
#6) On May 20, 2009 at 1:48 PM, VintageCat (< 20) wrote:

I think it is going to behoove families to help complete their children's education at home as schools start dumping program after program and classrooms are further jammed beyond capacity.  Of course not everyone will have the time, education or ability and that will be a sincere shame for the children "left behind".  If we can't pay (and we probably can't) for things such as a good and free public education, then the slack will have to be picked up elsewhere or left to it's own. Children inclined to receive an education can either be self taught later (or during school) but it is not ideal by any sense of the word.

What a monumental waste this has all been.  And I'm sure some bank executive bazillionaire that has cleaned up the taxpayer's dollars in this mess will have the gaul to fly the flag in front of their 12th house and think themselves a good citizen while the rest of the country withers and dies.  It makes me crazy.

Report this comment
#7) On May 20, 2009 at 1:54 PM, AllStarPortfolio (21.08) wrote:

You missed the point VintageCat. When they said "no child left behind, they meant they were sending them all to Iraq, Afganastan, and all that.

I made a bumper sticker last summer. . .

"A troop surge is not an economic stimulus"

-solaris

Report this comment
#8) On May 20, 2009 at 4:01 PM, bigcat1969 (92.59) wrote:

FAIR claims over 13 billion a year of California's budget goes to supporting illegals.  Mind you they are certainly biased, still possibly we are approaching a point where housing the criminals, educating the children and medicating the parents of illegals on the state's tab is not totally sustainable.

Report this comment

Featured Broker Partners


Advertisement